PRICE RELEASEAvalanche announced that they have integrated flexible fiat payment options on their network. This was possible thanks to an integration with Alchemy Pay. Alchemy Pay is a payment solution that bridges fiat and crypto economies and it will now offer support for Avalanche’s public blockchain’s native token AVAX for payments. Avalanche has also stated that they are joining Alchemy Pay to be a founding partner of the Blockchain Infrastructure Alliance.
Avalanche, a layer-1 cryptocurrency blockchain is available. that aims to digitise the world’s assets on what is currently the fastest smart contracts platform in the industry. It has witnessed a significant increase in activity this year thanks to the influx of developers who are creating a vibrant decentralized finance environment. The Avalanche supports the Ethereum Virtual Machine so developers can easily port Ethereum applications. Avalanche makes launching DeFi applications simple and makes it possible to deploy customised blockchains that fit an application’s needs.
Alchemy Pay integration aids Avalanche developer because it allows Avalanche applications to connect with Alchemy Pay. Applications hosted within the Avalanche protocols can onboard users through direct fiat on ramps for traditional payment systems such as Visa Mastercard, PayPal and other local channels. Despite the flexibility and speed of the Avalanche network, a major factor behind adoption is the ability to bring in new users who don’t necessarily have blockchain expertise.
John Tan, Alchemy Pay’s CEO, explained, “We like the idea that people will have an easy experience when they come to blockchain and DApps. Users can access the ecosystem through standard fiat channels by offering them easy ways to pay. We want to get to the point where users can enter the crypto economy because they’re attracted by a particular app and not necessarily because they have prior knowledge of the blockchain and crypto space.”
Alchemy Pay also integrates the AVAX token in its global cryptofiat gateway, so it is more easily used to make business-to-business and customer-to business payments. It is currently available in 65 countries, and offers more than 300 payment options.Through partnerships with major payment and ecommerce platforms like Shopify, Arcadier and QFPay, it has more than 2,000,000 merchants around the world.
For merchant partners, the AVAX token can automatically be converted to fiat currency. Alchemy Pay is a crypto payment platform that offers low fees, fast settlement and does not require businesses to purchase new hardware.
AVAX now has the ability to seamlessly transfer between blockchain and fiat economies. AVAX can be used to interact with DApps.
Alchemy Pay integrated several leading cryptocurrency into its crypto-fiat global network over the last months. These include $MATIC and $TRX.NEO and NEAR were co-founders, as well as Polygon, of the Blockchain Infrastructure Alliance (BIA). This alliance brings together innovators and investors, industry leaders and investors, to promote decentralized finance and create synergies in all aspects of blockchain technology.
Avalanche’s rise in recent months is impressive. The total locked value has gone from $1B to $12B in August, and it now stands at more than $12B. It’s inclusion as a founding member of the Blockchain Infrastructure Alliance will bring Avalanche closer to other leaders in the space and further strengthen BIA’s ability creating a more unified blockchain industry.
About Alchemy pays
Alchemy Pay, a provider of integrated fiat-and cryptocurrency gateway solutions, enables seamless fiat and crypto acceptance for developers, merchant networks and financial institutions. Alchemy Pay is a company that makes crypto investments, transactions and DeFi easily accessible for consumers and financial institutions. Alchemy Pay currently supports more than 65 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.
Avalanche, the fastest blockchain platform for smart contracts, is measured in time-to-finality. It also has the highest number of validators to verify its activity, which makes it the best proof-of-stake protocols. Avalanche’s speed, cost-efficiency, and sustainability are unmatched. Avalanche is a smart contract that can enable any application to perform better than its competitors. Don’t believe it? Avalanche is available today.
This press release is for informational purposes only. Before taking action regarding the company, its affiliates, or their services, readers should conduct thorough research. Bitcoin.com cannot be held responsible for any loss or damage caused, directly or indirectly by, the use or reliance of any content, goods and services mentioned in the press releases.
Images CreditsShutterstock. Pixabay. Wiki Commons