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Enabling a seamless payment experience for customers and traders in crypto and fiat currencies through Alchemy Pay’s crypto-fiat gateway technology
SINGAPORE – (BUSINESS WIRE) – Binance, the world’s largest crypto exchange, has partnered with crypto-fiat hybrid payment solutions provider Alchemy Pay to create a payment bridge between crypto and fiat through the Binance Pay wallet .
Binance Pay is a contactless, borderless, secure user-to-user cryptocurrency payment feature on the Binance app. Launched in beta in February, Binance Pay’s features allow users and traders to send and receive crypto payments around the world without incurring special processing fees for using crypto.
Backed by Alchemy Pay’s fiat-crypto integration, Binance Pay is available for peer-to-peer payments and merchant transactions. Users and traders can choose their preferred options to pay and get paid with over 40 supported cryptocurrencies.
“Alchemy Pay was founded in 2018 by a team of fiat payment gateway veterans with a common vision to build a practical bridge between fiat and crypto,” said Alchemy Pay CEO John Tan. “When we started, the total value of the cryptocurrency market was less than a tenth of a percent of what it is today. Electronic payments outside the $ 80 trillion fiat economy were virtually unknown to the world. ”
Commenting on the partnership, John said, “Alchemy Pay’s partnership with Binance for the Binance Pay wallet significantly expands the practical core applications we are building between the crypto and fiat worlds.”
Alchemy Pay’s merchant networks include Shopify, QFPay, Pricerite of Hong Kong, Ce La Vi of Singapore, Canadian shoe brand Aldo, multinational Arcadier SaaS, taxi services Midwest Global Asia (with its network of over 2,500 limousine drivers) and more.
Binance is the world’s largest crypto-asset exchange, with nearly $ 40 billion in trading volume per day. In addition to creating a market for crypto assets, Binance offers a wide range of crypto and blockchain related services for individuals and institutions.
About Alchemy Pay
Alchemy Pay is the inventor of the world’s first hybrid fiat and digital currency gateway solution for businesses and investors. Alchemy Pay enables transparent acceptance of crypto and fiat for merchant networks, developers, and financial institutions, and drives adoption of blockchain technology by making crypto investing and DeFi services easily accessible to consumers and businesses. fiduciary economy institutions. Today, Alchemy operates in 18 countries and regions and has touchpoints with over 2 million merchants through partnerships with industry giants such as Shopify, Arcadier, QFPay and more.
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