Press release
PRESS RELEASE. Palo Alto, USA, March 2022 – Vechain (VET), the leading layer-1 smart contract platform has announced it is adding Alchemy Pay’s (ACH) mainstream-friendly fiat payment channels and crypto on-ramps to its network. Alchemy Pay specializes in practical payment solutions to connect fiat and cryptocurrency economies. Its crypto acceptance payment system for online and offline businesses with 2 million+ merchants in over 70 countries worldwide now supports VeChain’s VET token for payments.
VeChain’s CEO, Sunny Lu, said of the integration, “With Alchemy Pay’s fiat payment channel and crypto on-ramps we are bringing more mainstream accessibility to our network. These benefits are not just for the users but for developers using VeChainThor’s blockchain. The integration of VET into Alchemy Pay’s crypto payment system is important in further expanding the real-world use cases for VET as a form of payment. By enabling mainstream payment standards like Visa, Mastercard and Paypal using Alchemy Pay, the mainstream adoption of VET will increase by making direct access possible, bypassing the complications of crypto exchanges that can be a barrier for many new users.”
Alchemy Pay, a bridging platform for the sector, has gained increasing importance in the Blockchain space. This is evident in recent payment integrations that have been made with Elrond and Polygon as well as NEAR, Algorand, NEAR and Avalanche. The 300+ fiat payment channels enable crypto networks and services to integrate users with both popular mobile wallets and more traditional bank and card transfer payments.
Alchemy Pay CEO, John Tan, said, “VeChain is a leading blockchain project that has attracted a great deal of support and interest from developers and has an impressive ecosystem. Their partnership will increase their accessibility to developers and expand the opportunities for them on Thor. After integrations with VeChain as well as other leading blockchains we expect our fiat-crypto on-ramps to be a major driver of the mainstream adoption of crypto services and DApps go forward.”
VeChainThor is a public blockchain that powers the VeChainIn ecosystem. This platform provides resources and tools to anybody who wishes to use blockchain technology to solve real economic problems. VeChain gives businesses and startups the tools they need to create platforms that are built on Thor.
Alchemy: What Does It Pay?
Alchemy Pay was founded in Singapore in 2018 and connects crypto and fiat economies to global businesses and consumers. Online and offline merchants can accept fiat as well as cryptocurrency. It also makes it easy for mainstream users to use crypto services. Alchemy Pay supports over 70 countries and 300 payment channels. Through partnerships with industry leaders like Binance, Shopify or NIUM (QFPay), more than 2,000,000 merchants have access to Alchemy Pay. Alchemy Pay’s token, ACH, is native to the Ethereum blockchain.
Website：alchemypay.org
Twitter：twitter.com/alchemypay
Telegram：t.me/alchemy_official
VeChain
VeChain imagines a future where blockchain technology can be applied to solve real-world problems and create value in businesses and projects. VeChain Foundation launched the VeChainThor Blockchain enabling projects with the blockchain in 2015. Two token models keep transaction costs low, and the Proof-Of-Authority consensus mechanism assures high throughput while keeping energy consumption to a minimum.
VeChain Foundation was registered in Europe. They currently have offices in Asia and Europe. VeChain, along with key strategic partners PwC, DNV and Bayer has collaborated extensively with leading enterprises such as Walmart, Bayer and the BMW Group.
Website: vechain.org
Twitter: twitter.com/vechainofficial
Telegram: t.me/vechain_official_english
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