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Press release
PRESS RELEASE. Avalanche announced the integration of flexible fiat payment ramps on its network, thanks to a new integration with Alchemy Pay. Alchemy Pay is a payment solution that connects fiat and crypto economies and will now offer support for the native Avax token of the Avalanche public blockchain for payments. Avalanche also announced that it will join Alchemy Pay as a founding member of the Blockchain Infrastructure Alliance.
Avalanche is a Layer 1 blockchain that aims to digitize the world’s assets on what is currently the fastest smart contract platform in the industry. This year, it has seen tremendous growth in business attracting developers to create a thriving decentralized financial ecosystem. It offers compatibility with Ethereum virtual machine, which means developers can seamlessly transfer applications from Ethereum. Avalanche simplifies the launch of DeFi applications and allows the deployment of custom blockchains adapted to the needs of an application.
Integration with Alchemy Pay helps Avalanche developers as it allows applications hosted in the Avalanche protocol to onboard users through direct ramps for traditional payment platforms such as Visa, Mastercard, PayPal and several local payment channels around the world. Despite the flexibility and speed of the Avalanche network, a major driver of adoption is the ability to attract new users who do not necessarily have blockchain expertise.
John Tan, CEO of Alchemy Pay, explained, “We like the idea that people have an easy experience when it comes to blockchain and DApps. By providing standard fiat channels, we can allow users to enter the ecosystem directly. We want to get to the point where users can enter the crypto economy because they are drawn to a particular application and not necessarily because they have prior knowledge of the blockchain and the crypto space.
Alchemy Pay has also integrated the AVAX token into its global crypto-fiat gateway so that it can be more widely used for business-to-business or customer-to-business payments. The payment network currently supports use in 65 countries and has over 300 payment channels. It has a global reach of over 2 million merchants through partnerships with mainstream payment and e-commerce platforms such as Shopify, Arcadier, and QFPay.
The AVAX token used to pay online or in-store on the Alchemy Pay network can be automatically converted into fiat currency for the convenience of merchant partners. Alchemy Pay focuses on expanding the acceptance of crypto payments by offering low fees and quick settlement without forcing businesses to adopt new hardware.
The ability to handle transactions between fiat and cryptocurrency is attracting new users and this integration means that AVAX can now seamlessly move between blockchain and non-blockchain economies. It will also encourage users to see AVAX as a way to interact with DApps.
Over the past few months, Alchemy Pay has integrated a number of leading cryptocurrencies into its global crypto-fiat network, including $ MATIC, $ TRX, and $ NEO. He also recently co-founded the Blockchain Infrastructure Alliance (BIA) alongside NEO, NEAR and Polygon. The alliance brings together industry leaders, innovators and investors to create synergies in all areas of blockchain technology and collectively promote the development of decentralized finance.
The rise in avalanches in recent months has been impressive, with the total locked-in value rising from less than US $ 1 billion in August to over $ 12 billion today. Its 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 to create a more unified blockchain industry.
About Alchemy Pay
Alchemy Pay is an integrated provider of fiat and cryptocurrency gateway solutions, enabling seamless acceptance of crypto and fiat for merchant networks, developers and financial institutions. The company is driving the adoption of blockchain technology by making crypto investments, business transactions, and DeFi services readily available to consumers and fiat economy institutions. Today, Alchemy Pay supports over 65 countries with 200 payment channels and has touchpoints with over 2 million merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay and more.
Website: alchemypay.org
Twitter ： twitter.com/alchemypay
Telegram: t.me/alchemy_official
About Avalanche
Avalanche is the blockchain industry’s fastest smart contract platform, measured by time to end, and has the most validators securing its business of any proof of stake protocol. Avalanche is incredibly fast, inexpensive, and green. Any application compatible with smart contracts can outperform its competition by deploying on Avalanche. You do not believe it ? Try Avalanche today.
Website: avax.network
Twitter ： twitter.com/avalancheavax
Telegram: t.me/avalancheavax
This is a press release. Readers should exercise due diligence before taking any action regarding the promoted business or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in the press release.
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