A very important new crypto-to-fiat integration arrives thanks to Binance the world’s largest cryptocurrency exchange. In recent days, Binance announced a partnership with crypto-fiat payment platform Alchemy Pay to enable cryptomoneta payments on its 2 million partner merchants using its Binance Pay app.
Alchemy Pay, founded in 2018 operates in 18 countries and will allow users to pay and accept payments in over 40 different supported cryptocurrencies including Bitcoin (BTC) and Ether (ETH).
Alchemy Pay’s partners include Shopify the ecommerce giant, software technology company Arcadier, mobile payments provider QFPay and others.
Alchemy Pay reportedly operates a global crypto-fiat payment portal with 300 fiat and crypto payment channels in 65 countries and Alchemy Pay’s network of merchant partners also includes Pricerite, Hong Kong’s largest furniture company, Singapore’s Cé La Vi, Canadian footwear brand Aldo and cab service Midwest Global Asia.
Alchemy Pay owns its own Ethereum blockchain-based token called Alchemy Pay (ACH) which has witnessed a huge rally in recent days although it has now returned to usual values and was listed on the large global cryptocurrency exchange Coinbase on Tuesday.
Alchemy Pay CEO John Tan commented that the partnership with Binance.
It significantly expands the practical applications we develop as the backbone between the crypto and fiat worlds.” In addition, he pointed out that when Alchemy Pay was launched the total value of the crypto market was “less than 0.1% of what it is today.
As reported earlier, Binance Pay is a contactless P2P crypto payment feature on Binance, allowing users to send and receive crypto payments worldwide. The public alpha version of the app was launched this March and is available to all eligible Binance users
