The Alchemy Pay Effect: 2023 Annual Spotlight

Alchemy Pay
7 min readJan 31, 2024

2023 stands as a significant chapter for Alchemy Pay that fills us with pride as we look back on the year’s achievements. As we embrace the fresh beginnings of this new year, we are proud to take this chance to spotlight key milestones and achievements we hit this year. In this article, we would like to present spotlights of our accomplishments:

  • Steady Growth on our Ramp: 1M Users and 3M+ Transactions
  • 3 Licenses in 2023: Charting Compliance Milestones
  • Crypto Card New Launch: 6 months with 500k Card Users
  • Expanding Our Reach with 440+ Trusted Business Collaborations
  • 50+ Off-line Events: Making a Global Impact
  • Cultivating a 670k+ Community of Believers

For a detailed overview of our all-year performance, we invite you to explore our comprehensive roundup published last week, accessible here.

Steady Growth on our Ramp: 1M Users and 3M+ Transactions

As a fiat-crypto payment gateway, the Ramp business stands out as a pivotal chapter within Alchemy Pay’s story. Back in June 2022, we took our first steps, and through continuous refinement, we’ve built a pathway that effortlessly connects fiat and cryptocurrency for countless individuals.

In 2023, it fills us with gratitude to see that over 1 million users have entrusted us, who not only register on our ramp, but also engage in transactions between fiat and crypto on our platform. By 2023, these users placed over 3 million transaction orders, a testament to the genuine relationships we’ve nurtured.

Such accomplishments underscore our genuine user base and adeptness in managing extensive transactions. Every day, we strive to enhance the Ramp experience, ensuring that our users find comfort and ease with Alchemy Pay, and we deeply appreciate the growing community that chooses for Alchemy Pay’s services along the way.

Furthermore, our vision is to evolve Alchemy Pay into a globally recognized platform with localized advantages. We’re honored by the significant support from regions such as Europe, Southeast Asia, South America, Central Asia, and Africa. Specifically, our active user base resonates strongly in the following countries and regions: EEA, Ireland, Germany, Greece, Switzerland; Indonesia, Philippines, Thailand; Brazil, Mexico; Turkey; and Egypt, Algeria, Libya.

3 Licenses in 2023: Charting Compliance Milestones

Looking back over the past year since we secured our license in Indonesia, our journey has been deeply rooted in ensuring compliance at every step, kicking off a year of frequent gains in compliance. With licenses now in hand across Indonesia, and Arkansas & Iowa in the United States, we’ve won compliant achievements across 3 regions in 2023, culminating in successful compliance processes across 5 distinct places.

Navigating the path of licensing is no fleeting endeavor. Our endeavors also led us to pursue MSO in Hong Kong as well as MTL in other states in the US. As we embrace the horizon of 2024, our gaze is set on forthcoming applications across more countries and regions. Together, let’s anticipate the fruits of these efforts with hope and optimism.

As custodians of a crypto payment gateway, our reverence for compliance resonates deeply within our core, and no one understands the importance of compliance better than we do. We’ve consistently voiced our unwavering commitment to compliance, both to our community and the broader industry, all while holding ourselves to the highest standards. Grounded in this ethos, we pledge to expand thoughtfully, ensuring every transaction remains securely settled within a compliant framework that assures our users and partners.

Crypto Card New Launch: 6 months with 500k Card Users

Launching our Crypto Card Solution stands out as a big moment for us. Grounded in extensive market insights, we saw a strong demand for crypto cards. It fills our hearts with pride to share that the Crypto Card Solution went live in June 2023, and we were excited to see over 500,000 users holding our Crypto Card already.

By December, we officially teamed up with Binance Pay to introduce Alchemy Pay’s “Crypto Card’’ on the Binance Marketplace. Right now, we’re offering a special two-month deal for users: discounted application fees at just 0.01, good fee rates, and extra $ACH rewards when they recharge and use their cards.

Feedback from our business partners has been encouraging. Many are interested in our physical crypto card issuance service and have even started designing their own branded crypto cards with us, and it’s heartening to see others in the industry recognizing and valuing what we offer.

Expanding Our Reach with 440+ Trusted Business Collaborations

After more than a year of hard work, Alchemy Pay stands humbly grateful for the journey we’ve embarked upon as a trusted fiat payment service provider. Till now, we’ve fostered collaborations with over 440 esteemed business partners, each interaction enriching our shared vision.

It warms our hearts to note that prominent wallets and exchanges, such as Trust Wallet, Bitget, and OKX, have acknowledged our commitment, entrusting us to deliver a smooth fiat-cryptocurrency conversion experience to their vast user communities.

Our alliance with many public chains this year, including Polygon zkEVM, ICP, Stellar, Conflux, Klaytn, Neo, Celo, Ontology, etc., has been deeply rewarding. Together, we’ve endeavored to empower ecosystem developers, and help to onboard more users with their most familiar fiat payment method.

Furthermore, our commitment extends to forging partnerships with additional banks, local payment channels, and payment processors. This strategic approach enables us to expand our payment methods, ensuring comprehensive services delivered to our users.

50+ Off-line Events: Making a Global Impact

2023 was a vibrant and eventful year for Alchemy Pay. Our dedicated team embarked on journeys to participate in over 50 offline events around the globe in 18 countries and regions, weaving connections with diverse projects across the industry spectrum. These engagements not only deepened our understanding of evolving needs but also expanded the reach of our fiat-cryptocurrency solution to a diverse array of potential collaborators.

From the bustling streets of Barcelona, Paris, and Hong Kong to the dynamic hubs of Tokyo, New York, Singapore, Seoul, Istanbul, and beyond, our footprint spanned continents.

These events unfolded our journey, with localized markets serving as the guiding thread. Between April and November, our endeavors took us from the vibrant energy of Hong Kong to the sun-kissed shores of Miami, and from the cultural melting pot of Singapore to the historic charm of Istanbul. Within these 4 strategic local markets, we delivered our mission through wide-range advertisements, major crypto conferences, and many side events, introducing our ramp to an ever-growing community of users, forging connections that transcended borders.

Cultivating a 670k+ Community of Believers

The last part we want to talk about is our community.

Their support has propelled us forward, and with gratitude, we recognize the strength of our bond that now spans over 670,000 community members. Each individual within this community has been instrumental in shaping our narrative, and their trust has been the cornerstone of our achievements.

Throughout the year, we held over 120 online events, encompassing engaging sessions on Twitter Spaces, insightful panels, interactive AMAs, mini challenges, spirited holiday celebrations, and dynamic ambassador programs.

Beyond these events, through improved ramp experience, Launching crypto card, establishing partnerships with international payment channels, serving over 170 countries and regions, providing 300+ payment methods, and participating in diverse offline events, we have proudly welcomed 670k+ community members who have joined us on this journey. These endeavors were heartfelt engagements designed to unite our community, share our collective vision, amplify voices that resonate with our mission, and foster enduring growth alongside us.

Advancing Together in 2024

As we wrap up this annual highlight report, we want to genuinely thank each one of you for your unwavering support and dedication. Your contributions, as users, partners, and stakeholders, have been invaluable, shaping our achievements and helping us to set sights on new opportunities in the upcoming year. We promise, Alchemy Pay will continue its heartfelt efforts to bridge the fiat and crypto, and contribute to the whole crypto industry, just as we always have.

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.

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Alchemy Pay

Alchemy Pay (ACH) bridges fiat and crypto global economies through a real-world payment system and mainstream-friendly access to web3 services.