ingaporean fintech company Alchemy Pay revealed its partnership with United Kingdom-based payment processor Worldpay. This collaboration is set to provide Alchemy Pay users with access to Worldpay's Visa and Mastercard payment rails for purchasing cryptocurrencies using their credit and debit cards.
Alchemy Pay Expands its Reach
With this partnership, Alchemy Pay aims to enhance its services and assist its business partners and users in seamless cryptocurrency transactions on a global scale. Alchemy ecosystem lead, Robert McCracken, expressed his excitement about this collaboration, stating that it positions Alchemy Pay in a better position to facilitate cryptocurrency transactions worldwide.
Aligning with the Web3 Economy
Nabil Manji, the head of crypto and Web3 at Worldpay, emphasized the alignment between Alchemy Pay's mission of promoting global adoption of digital assets and Worldpay's role in bridging the gap between traditional and digital finance. This collaboration reflects the growing interest and integration of Web3 technologies in the payment industry.
Alchemy Pay's Features and Expansion
Established in 2018, Alchemy Pay is a fiat-to-crypto onboard processor that supports over 50 fiat currencies through platforms such as Google Pay, Apple Pay, and various mobile wallets. The company recently introduced fast payment solutions for the euro and British pound, enabling quick transfers for crypto purchases.
Alchemy Pay has been expanding its operations by obtaining money service licenses in different states in the United States. In November, the company acquired a license in Iowa, following the approval of a license in Arkansas in September. These licenses enable Alchemy Pay to operate legally in these jurisdictions and offer its services to a broader customer base.
The partnership between Alchemy Pay and Worldpay marks a significant step in facilitating crypto transactions and bridging the gap between traditional and digital finance. With access to Worldpay's payment rails, Alchemy Pay users can now leverage their Visa and Mastercard cards to purchase cryptocurrencies seamlessly. This collaboration highlights the increasing importance of Web3 technologies in the payment industry and showcases the commitment of both companies to promote the global adoption of digital assets.