Fast Forward: Bi-Quarterly Report on Alchemy Pay
Halfway There, and Full Speed Ahead! The world of finance keeps spinning on its blockchain axis, and Alchemy Pay is right there at the forefront. This bi-quarter, we’ve been laser-focused on forming important partnerships, winning licenses, adding new payment channels to reinforce our payment capabilities. The innovative Web3 digital bank debuted in May, while we also updated our crypto payment product.
Right now, we’re thrilled to share a glimpse into our journey so far in the first half of this year.
Web3 Digital Bank & Crypto Payment Solution
Imagine a world where compliance, ease, and reliability seamlessly converge in your financial operations. This is the reality we’re creating with the Web3 Digital Bank debuted in May. Global Web3 businesses can now effortlessly open and manage multi-fiat accounts, streamline cash flow within a single platform, and experience frictionless fiat-crypto conversions.
Recognizing the growing mainstream adoption of cryptocurrencies as valuable assets, we’ve empowered businesses to explore investment opportunities in this exciting sphere. Align with this vision, we’ve joined forces with Victory Securities (stock code: 8540. HK), the first licensed corporation in Hong Kong to offer virtual asset trading and advisory services to retail investors. Through this partnership, a broader user base can access VictoryX to purchase the newly listed Bitcoin and Ether spot ETFs in Hong Kong.
We’ve also made significant strides in user convenience. Our newly updated crypto payment solution allows users to connect their exchange and brokerage accounts like Coinbase, Kraken, and Robinhood. This translates to a world of possibilities — effortlessly pay for orders using your existing crypto balances, and for merchants, accept crypto payments from these popular platforms.
Major Integrations & Partnerships
The crypto industry thrives on collaboration — it’s the bedrock of a robust ecosystem. In this bi-quarter, we’ve been forging strategic partnerships and integrations that not only propel our growth but also solidify our position as a trusted leader.
Our partnerships span the entire blockchain ecosystem, from L1 & L2 blockchains to DeFi protocols, exchanges, Web3 infrastructure providers, game-fi leader, and more. Leading names like TON, Linea, Lido, Celo, Metis, Scroll, Astar Network, Manta Network, Casper, Fusionist and Bitcoin.com etc., have all integrated our on & off-ramping solutions or token listing services.
Our landmark partnership with Mastercard takes things to the next level. By leveraging their innovative account opening solution, we’re creating a frictionless account registration experience for users while simultaneously enhancing risk management. This translates to faster onboarding, smoother transactions, and a more secure platform for everyone.
New Local Payment Channels Added
At its core, our mission is to provide users with convenient and accessible crypto payment tools. We’re on a relentless quest to achieve 100% on-ramp coverage across every crypto-accessible nation. While the journey continues, we’re making explosive progress.
While social media might not have shouted from the rooftops, the first half of this year saw us quietly but decisively expand payment channels across UAE, Africa, and 28 European countries. We partnered with payment service providers like Volt and Paysafe for our expansion of payment networks and the vision of a borderless crypto future.
UAE, this crypto-friendly haven with relaxed regulations is now fully onboard with our On-ramp solution, powered by BOTIMPay and PayBy. Africa, a continent where crypto is embraced with exceptional enthusiasm, saw a significant boost in accessibility. Users in 9 African countries can now leverage local bank transfers to purchase crypto with their native fiat currencies. Our newly integrated open banking system powered by Volt adds 200+ major and local banks to our network, including household names like BNP Paribas, HSBC, Deutsche Bank, UniCredit, OTP, and Swedbank. This collaboration streamlines the process for European users, bringing crypto purchases closer than ever before.
By expanding local payment options, we aim to empower users and cater to diverse financial needs across the globe with cheaper ways and higher transaction success rate.
Regulatory Efforts: Building a Fortress of Trust
Let’s talk about regulations. You might be tired of hearing about Alchemy Pay securing yet another license somewhere in the world. However, as a payment service provider, we will never forget the critical importance of obtaining these licenses. Every license we acquire signifies a major victory: official recognition from global authorities and governments.
So, yes, we’re absolutely thrilled to announce that 2024 has seen us secure a Money Transmitter License in New Hampshire and an Authorized Payment Institution License in the UK! These additions join our growing fortress of compliance, which now spans the United States, the UK, Lithuania (Europe), Indonesia, and Canada.
These licenses aren’t just pieces of paper — they’re keys that unlock a world of opportunity. They pave the way for seamless expansion, allowing us to empower businesses and users in new regions with confidence.
Humanitarian Aid for Japan Earthquake
At Alchemy Pay, we believe that success is measured not just by innovation but also by the positive impact we can have on the world around us. We’re proud to stand with our communities, both during times of celebration and in moments of hardship.
On January 1st, 2024, our hearts went out to the people of the Noto Peninsula in central Japan who were devastated by a powerful earthquake. Together with OAK Grove Ventures, we promptly donated 1,000,000 yen to the Ishikawa Prefecture government, directly supporting relief efforts in the affected areas. Additionally, we offered our On & Off-Ramp service completely free of charge, making it easier for charitable organizations to receive donations from around the world.
In Conclusion
In the first half of the year, Alchemy Pay has actively participated in major conferences, leaving its mark at the Hong Kong Web3 Festival, TOKEN2049 Dubai, Consensus 2024, Money20/20 Europe, and ETHCC Brussels. Our journey doesn’t stop here — you can expect to see us at even more events in the second half of the year. And if you’re curious to see the bigger picture, head over to our website and check out our 3-year roundup video.
Thank you for joining us on this journey. We encourage you to stay tuned for even more exciting progress in the second half of the year!
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 offerings including On & Off Ramp, Crypto Card, Web3 Digital Bank, Crypto Payments and NFT Checkout, 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. Additionally, our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. The crypto payment solution enables merchants to accept crypto payments globally, while allowing users to conveniently spend their crypto assets for everyday purchases. ACH is the Alchemy Pay network token on the Ethereum blockchain.
