Beyond the BTC ETF Approval: Alchemy Pay’s Journey Alongside the Developing Bitcoin Ecosystem
On January 10th, EST, the crypto world witnessed a historic moment together — after a decade-long endeavor, the U.S. Securities and Exchange Commission (SEC) officially greenlit 11 BTC spot exchange-traded funds (ETFs) applications. This marks a milestone where conventional finance harmonizes with cryptocurrencies. Consequently, individual investors can now engage in crypto investment by acquiring BTC ETFs, which broadens the pathways for capital access to Bitcoin.
As an active participant in the crypto world, Alchemy Pay has long awaited this breakthrough and shares in the enthusiasm surrounding this pivotal moment. And our commitment to cultivating the Bitcoin ecosystem since 2018 positions us well for this anticipated development.
Support For Offline Bitcoin Payments
In its early stages, Alchemy Pay emerged as a pioneer in offline crypto payments. By 2018, recognizing the need to facilitate broader acceptance among merchants, we introduced POS machines with integrated Bitcoin payment support. With these POS devices, merchants can seamlessly accept Bitcoin from customers, while individual users enjoy the convenience of scanning a QR code to transact using their crypto holdings.
Alchemy Pay provided comprehensive support across numerous consumer scenarios, enabling individuals to use Bitcoin for various purposes such as taxi rides, retail shopping, bar expenditures, hotel stays, and beyond.
In 2019, we advanced our crypto payment by launching the world’s first hybrid crypto and fiat payment system. At this time, our expansive network boasts over 2M merchants spanning 70 countries and regions, enabling Bitcoin transactions across online and offline, through POS hardware, web portals, mobile applications, and other various payment scenarios.
On & Off-Ramp: Facilitate the Buying and Selling of Bitcoin with Fiat Currencies
Following extensive accumulation, we’ve established robust support for expanding payment channels and brought our solutions online. Upon its launch, our On & Off-Ramp facilitated Bitcoin transactions across 173 countries and regions. Users could effortlessly buy and sell Bitcoin using over 50 fiat currencies through Visa, Mastercard, diverse local wallets, bank transfers, and other payment options. Concurrently, our ramp has greatly empowered numerous business partners and introduced crypto accessibility to a broader audience.
Furthermore, Alchemy Pay’s Ramp collaborates extensively with numerous projects built on BRC-20 standard, supporting purchase through fiat payments of various BRC20 tokens like $ORDI, $1CAT, $RATS, $TURT, and more. This facilitates seamless fiat-to-crypto transitions for BRC20 tokens via Alchemy Pay’s payment network. Alchemy Pay carries on its mission of bridging the gap between traditional finance and BRC20 innovations, thereby fostering the robust growth of the Bitcoin ecosystem.
Recharge in virtual card with Bitcoin
In June 2023, we introduced our own crypto card. By December, we collaborated with Binance Pay, which enabled users to get the card via the Binance Marketplace mini-app Crypto Card for cryptocurrency top-ups and spending across various scenarios both online and offline. Additionally, our Crypto card facilitates Bitcoin recharging, facilitating direct Bitcoin-based shopping.
Conclusion
The approval of the Bitcoin Spot ETF signifies a significant step towards the enhanced institutionalization of cryptocurrencies, paving the way for bitcoin to reach a broader mainstream audience through regulated and efficient channels. This development also catalyzes the growth of the Bitcoin ecosystem, ushering in innovative advancements from payments to the Lightning Network, inscriptions and beyond. Lex Sokolin, the managing partner at Generative Ventures commented: “I’m excited to see capital flow into the Bitcoin ecosystem at a time where more programmability and functionality is available. My hope is that the story continues to shift from a store of value to global financial infrastructure. “
Since its inception, Alchemy Pay has fostered a profound connection with Bitcoin, and actively contributed to the development of the Bitcoin ecosystem. Leveraging our robust payment capabilities, we seamlessly bridge real-world fiat currencies, establishing an efficient gateway for Bitcoin transactions. As the world of blockchain technology undergoes transformation, Alchemy Pay’s presence in this era will amplify, catalyzing progressive innovations and fostering collaborations within the crypto community.
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, NFT Checkout, Crypto Card 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 NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on the Ethereum blockchain.
