SINGAPORE, May 21, 2024
/PRNewswire/ -- Alchemy Pay, the leading fiat-crypto
payment solution provider, is set to launch its latest venture,
the Web3 Digital Bank. This new initiative will offer global
Web3 businesses a compliant, easy, and reliable means to open
and operate multi-fiat accounts, streamline cash flows within a
single account, and facilitate seamless conversions between fiat
and cryptocurrency.
This fresh initiative, inspired by Ripple's model for
cross-border payments, addresses key challenges while introducing
innovative solutions. Web3 companies have long faced urgent needs
and significant challenges in managing cross-border payments and
transactions between fiat and cryptocurrencies.
Although numerous products have been developed to tackle these
issues individually, only a few have successfully managed to tackle
both at the same time. With the launch of the Web3 Digital Bank,
Alchemy Pay is taking a significant step forward in fulfilling
these dual requirements simultaneously.
Leveraging its existing licenses and compliance capabilities,
Alchemy Pay is well-positioned to introduce online payment and
banking solutions for businesses within regulatory frameworks. The
integration of Alchemy Pay's proven and user-friendly ramp product
into its banking offerings allows for seamless conversions between
fiat and cryptocurrencies within a single bank
account. With extensive experience in crypto payments,
Alchemy Pay is poised to deliver an advanced banking product that
enables businesses to efficiently manage multiple fiat accounts and
convert fiat into crypto through the same platform. In
essence, Alchemy Pay has transformed into a true Web3 bank,
expanding financial possibilities through its innovative banking
system equipped with fiat-crypto conversion ramps.
The account opening feature offers a seamless solution for those
seeking a multi-fiat currency account. Initially supporting EUR and
USD, this feature enables smooth transitions between these two
currencies. Leveraging Alchemy Pay's expertise and proficiency in
bridging fiat and crypto, EUR and USD balances within
this account can be instantly transferred to stablecoins like USDT
and USDC, thereby elevating borderless finance to a whole new level
and paradigm in this new market cycle.
The crypto world has witnessed significant
developments in recent months. On May
20th, SEC asked exchanges to expedite 19B-4 filings for Spot Ether ETFs, increasing the
odds of its approval. Earlier, on April
30th, the Securities and Futures Commission of Hong Kong granted approval and greenlit the
official trading for the inaugural Bitcoin and Ether
spot ETFs.
Echoing these thrilling progress that pushes
cryptocurrency towards broad acceptance and brings a
new wave of investment opportunities, the Alchemy Pay Web3 digital
bank also acts as a central hub aiding Web2 companies interested in
crypto industry investments. Through Alchemy Pay,
companies are able to invest directly in their desired
crypto targets through fiat currency as part of their
corporate assets. Serving as the bridge between fiat and
crypto global economies, Alchemy Pay is dedicated to
offer real-world services that seamlessly link Web2 and Web3 for
businesses and users worldwide, promoting a more inclusive and
equitable financial landscape.
To date, Alchemy Pay steadily keeps building its extensive Web3
payment ecosystem by deeply integrating licensing resources and
global compliance credentials. This strategy involves expanding
alternative payment methods (APMs) globally to augment service
capabilities and introducing a range of payment products designed
for various market needs. With over 440 high-quality business
partners and a track record of serving numerous prominent project
partners across blockchains, exchanges, wallets, games, and
DeFi like Polygon, Stellar, Arbitrum, ICP, TON, Celo,
Lido, Trust Wallet, OKX, Bitget, etc., Alchemy Pay has facilitated
seamless access to the crypto world for millions of
users.
Looking ahead, its newly developed banking products will further
support enterprises venturing into the crypto field,
solidifying its role in facilitating business transactions within
the crypto sphere.
In recent, Alchemy Pay revealed its investment in LaPay UK Ltd,
through which it secured an Authorized Payment Institution (API)
License, regulated by the Financial Conduct Authority (FCA). This
API license authorizes the undertaking of business operations such
as remittance, payment processing, and account management within
the UK. Alchemy Pay also announced its collaboration with Victory
Securities (stock code: 8540. HK), the first licensed corporation
approved by the Securities and Futures Commission (SFC) of
Hong Kong to provide virtual asset
trading and advisory services to retail investors, to optimize the
investing journey for users, particularly in the recently listed
Bitcoin and Ether spot ETFs in Hong Kong.
About Alchemy Pay
Founded in Singapore in 2017,
Alchemy Pay is a payment gateway that seamlessly connects
crypto with traditional fiat currencies for
businesses, developers, and end users. With its On & Off Ramp
solution, Crypto Card, Web3 Digital Bank, NFT
Checkout, and Crypto Payments, Alchemy Pay supports
payments in 173 countries.
The Ramp is a one-stop solution to buy and sell
crypto and fiat, easily integrated by platforms and
dApps according to requirements. The
Crypto Card solution empowers businesses and token
issuers to provide users with branded virtual and physical cards
for instant global spending. The Web3 Digital Bank offers an
innovative solution, allowing Web3 enterprises to open multi-fiat
accounts and facilitating instant conversion between fiat and
cryptocurrencies.
ACH is the Alchemy Pay network token on the
Ethereum blockchain.
Website Twitter LinkedIn Medium YouTube
Telegram Discord
View original content to download
multimedia:https://www.prnewswire.com/news-releases/alchemy-pay-set-to-launch-web3-digital-banking-solution-for-enterprises-302151269.html
SOURCE Alchemy Pay