On November 6, 2021, Alchemy Pay’s Chief of Staff, Karmen Tang, delivered her keynote address at the Epicenter Crypto Conference in Lisbon.
Tang went through an overview of Alchemy Pay as well as the wide ecosystem that they created within the Blockchain infrastructure. Alchemy Pay’s founders hail from the giants of traditional payment such as Mastercard and QFPay. “Experience, expertise and networking have all been key to what Alchemy Pay does. That gives us that edge over others in the crypto payment space,” said Tang.
Significant Network Growth
Alchemy Pay’s growth has been significant and it secured partnerships, including PayPal in Q4 2020 and Visa and MasterCard earlier this year.
Alchemy Pay offers over 200 payment methods for fiat or crypto. It is currently available in more than 60 countries. Alchemy Pay acts as a bridge between fiat and crypto transactions to address the real-world problems facing the industry.
Tang went on to explain that Alchemy Pay’s payment ecosystem is divided into four main categories: Customers and consumers; merchants and institutions; transaction service providers; and software technology developers. These are the areas of blockchain infrastructure Alchemy Pay was able bring together.
Alchemy Pay established partnerships over the last year with Shopify, Binance, and Coinbase this summer to launch their ACH token. This led to a 150-fold rise in its value. ACH now has the support of Poloniex and CoinOne as well as Gemini, Crypto.com and CoinOne. The number of their social media followers has increased significantly, reaching over 200,000 across Twitter, Telegram, and Reddit.
Tang revealed also that Alchemy Pay had recently formed a joint venture with one the most powerful conglomerates of the Middle East. The name of the conglomerate was not revealed due to a confidentiality agreement.
Modern finance requires a hybrid approach
Alchemy Pay’s hybrid payment solution allows everyday crypto payment, large or small, and the ability to bypass the costly Interchange means that Alchemy Pay’s merchants can expect to save 50-70% in fees in comparison to traditional digital payments. Within two to three working days, merchants get their cash.
Products under the White Label
Alchemy Pay allows companies to create loyalty tokens and offers white label products like crypto-linked cards. Merchants will be able to offer virtual Mastercard or Visa cards, and their customers can earn their token rewards by spending with them. Tang stated, “we recognise there is huge potential in this area and what blockchain offers in terms of tokenization is something we are very excited about.”
Blockchain Infrastructure Alliance
Today, the crypto payment market is fragmented and lacking interoperability. With this in mind, Alchemy Pay, along with other founding members – Polygon, NEAR, NEO, and Conflux, alongside other investment veterans and incubators, have come together to form the Blockchain Infrastructure Alliance(BIA), which collectively raises the profile of blockchain.
The BIA brings together innovators, thought leaders, entrepreneurs to create a network of synergies across the board and pool resources for research, promotion and development. To incubate new projects, the BIA is creating an ecosystem fund with select public blockchain members. The co-branded ecosystem fund will attract top quality projects, while the public blockchains partnering with it enjoy extra products and services. The BIA is collaborating with more than thirty top academics at universities all over the globe to identify and develop the most promising opportunities.
Social Benefits from Cryptocurrency Payouts
Crypto is slowly disrupting traditional finance, and in so doing, it is opening up a multi-trillion dollar opportunity for society. Karmen Tang concluded her keynote speech with conviction, “when we look to the future, we envision a world of greater financial empowerment, inclusion, and transparency for people regardless of geography or status. We understand that this won’t happen overnight but Alchemy Pay’s crypto-fiat solution has a big role to play in that by making crypto payments work seamlessly.”
Alchemy can payIt is a provider of integrated fiat- and crypto gateway solutions, enabling seamless fiat and crypto acceptance for developers, merchant networks and financial institutions. By making cryptocurrency investment, transactions and DeFi services easily accessible for consumers and financial institutions, the company encourages adoption of blockchain technology. Alchemy Pay currently supports more than 60 countries through 200 payment channels. The company also has contact points with over 2 million merchants via partnerships with giants like Binance, Shopify and Arcadier.
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