Alchemy Pay, a provider of fiat-crypto payment solutions, is preparing to launch its Web 3.0 digital bank.
This new initiative aims to provide global Web 3.0 businesses with a convenient and efficient way to manage multi-trust accounts, streamline cash flows and facilitate conversions between fiat and cryptocurrency.
Inspired by Ripple's cross-border payment model, the Web 3.0 digital bank addresses the important challenges of managing cross-border payments and fiat-crypto transactions.
With existing licenses, including the Singapore Digital Payment Token (DPT) license, as well as compliance capabilities, Alchemy Payment said it is positioned to provide online payment and banking solutions within regulatory frameworks.
Integrating its ramp product into the banking platform enables compatible fiat-to-crypto conversions in a single account.
This new banking product allows businesses to manage multiple fiat accounts and convert fiat to crypto through one platform.
Initially, the bank accepts EUR and USD, allowing easy transitions between these currencies. Balances can be instantly transferred to stablecoins such as USDT and USDC.
Alchemy Pay continues to build its extensive Web 3.0 payment ecosystem by integrating licensing resources and global compliance credentials.
It aims to expand alternative payment methods and present products adapted to the various needs of the market.
With over 440 business partners, including notable names like Polygon, Stellar and OKX, Alchemy Pay has enabled millions to enter the crypto world.
Recently, Alchemy Pay invest At LaPay UK Ltd, securing an Authorized Payment Institution license regulated by the FCA.
The company too partner Partnered with Victory Securities to provide asset trading and advisory services in Hong Kong, primarily for new Bitcoin and Ether spot ETFs.
Featured Image Credit: Edited from here Freepik
