Press Release
PRICE RELEASE Singapore, February 2022 – Leading fiat and crypto payment solutions provider, Alchemy Pay (ACH), announces its partnership with the Europe-based digital bank, Paytend. Alchemy Pay’s client crypto services, such as exchanges and investment platforms, will now offer users to pay directly in euros via credit and debit cards without requiring costly back-end conversion to US dollars.
Most cryptocurrency service providers currently only accept US Dollars. However, users who pay in Euros are subject to hidden foreign currency fees. Alchemy Pay’s enhanced service reduces forex friction for both businesses and consumers in Europe – a strategic offering that helps the company expand its global reach in the crypto payments industry.
John Tan, CEO of Alchemy Pay, explained the significance of the collaboration, “Europe is a key region for crypto at this point, and leveraging Paytend’s licensed payment channels gives us an advantage in the market. We are now offering our commercial partners in Europe and their users the most competitive prices and our network has more coverage than ever.”
Europe now has the most cryptocurrency-related economy, accounting for more than $1 Trillion in transactions. Chainalysis’ October 2017 report showed that Europe has risen to number one worldwide in crypto activity. The continent’s $1 trillion worth of cryptocurrencies last year represented around a quarter of all global activity.
Alchemy Pay’s flagship product is its hybrid crypto-fiat payment system that allows merchant partners to accept popular cryptocurrencies in offline and online payments at a low cost and with near-instant instant conversion to the merchant’s local fiat currency. The company recently expanded its service with MEXC crypto exchange and has teamed up with NEAR, Avalanche and Algorand to support crypto payment uses cases.
Paytend has a European Union EMI license and a technical structure that meets all regulatory requirements. This allows them to provide innovative digital banking services worldwide for European and other users. Paytend can provide financial services that are comprehensive within the framework of the European Central Bank’s unified regulations to protect funds. Paytend Europe is able to leverage its vast settlement network throughout Europe and international markets. It provides digital banking services that are low-cost, efficient, and cost-effective for customers who require cross-border transfer, acquisition, and card issuance.
Alchemy pays
Alchemy Pay was founded in Singapore in 2018. It is a payment solution provider that connects crypto and fiat economies. Online and offline merchants can accept fiat as well as crypto. It also allows for easy integration to the blockchain ecosystems and provides DeFi services that are highly accessible. Alchemy Pay supports over 70 countries and 300 payment channels. The company has more than 2,000,000 touchpoints with merchants thanks to partnerships with market leaders like Binance, Shopify or NIUM. Alchemy Pay’s token, ACH, runs on the Ethereum blockchain and is a top 250 cryptocurrency by market capitalisation.
Website: alchemypay.org
Twitter：twitter.com/alchemypay
Telegram: t.me/alchemy_official
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