Avalanche adds fiat currency payment through Alchemy Pay (ACH) integration – Press release Bitcoin News

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Press release. avalanche As a result of the integration with the new, it has announced the integration of a flexible statutory payment portal on its network Alchemy payment. Alchemy Pay is a payment solution that connects fiat currency and the encrypted economy. Now it will support AVAX, the native token of the Avalanche public blockchain, for payment. Avalanche also announced that they will join Alchemy Pay as a founding member of the Blockchain Infrastructure Alliance.

Avalanche is a layer 1 blockchain Aiming to digitize the world’s assets, this is currently the fastest smart contract platform in the industry. This year, by attracting developers to create a prosperous decentralized financial ecosystem, its activities have grown tremendously. It provides compatibility with the Ethereum virtual machine, which means that developers can seamlessly port applications from Ethereum. Avalanche makes it easy to launch DeFi applications and makes it possible to deploy a customized blockchain that suits the needs of the application.

The integration with Alchemy Pay helps Avalanche developers because it enables applications hosted in the Avalanche protocol to join users through the direct fiat entry of traditional payment platforms, such as Visa, MasterCard, PayPal, and multiple local payment channels around the world. Despite the flexibility and speed of the Avalanche network, one of the main factors behind the 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 will have a relaxed experience when using blockchain and DApp. By providing standard legal currency channels, we can allow users to directly enter the ecosystem. We hope that users can enter the crypto economy because they are affected by specific applications. Attracted, not necessarily because they have prior knowledge of the blockchain and crypto space.”

Alchemy Pay also integrates the AVAX token into its global encrypted fiat currency gateway so that it can be used more widely for business-to-business or customer-to-business payments. The payment network currently supports use in 65 countries and has more than 300 payment channels. Through cooperation with mainstream payment and e-commerce platforms such as Shopify, Arcadier and QFPay, it has more than 2 million merchants worldwide.

AVAX tokens used for online or in-store payments on the Alchemy Pay network can be automatically converted into legal tender for the convenience of merchant partners. Alchemy Pay focuses on expanding the acceptance of encrypted payments by providing low fees and fast settlement without the need for companies to adopt new hardware.

The ability to process transactions between fiat and cryptocurrencies has attracted new users, and this integration means that AVAX can now seamlessly move between blockchain and non-blockchain economies. It will also encourage users to view AVAX as a medium for interacting with DApps.

In the past few months, Alchemy Pay has integrated many leading cryptocurrencies into its global cryptocurrency network, including $MATIC, $Trunk, And $Near-Earth Objects. It also recently co-founded the Blockchain Infrastructure Alliance (BIA) with others Near-Earth Objects, NEAR and polygon. The alliance brings together industry leaders, innovators and investors to create synergy in all areas of blockchain technology and jointly promote the development of decentralized finance.

The rise of Avalanche in the past few months has been impressive. The total value locked in has increased from less than US$1B in August to more than US$12B today. Its joining as a founding member of the Blockchain Infrastructure Alliance will bring Avalanche closer to other leaders in the field and further strengthen BIA’s ability to create a more unified blockchain industry.

about Alchemy payment

Alchemy Pay is an integrated fiat and cryptocurrency gateway solution provider that provides seamless encryption and fiat currency acceptance for merchant networks, developers and financial institutions. The company promotes the adoption of blockchain technology by making it easy for consumers and institutions in the statutory economy to obtain encrypted investment, commercial transactions, and DeFi services. Today, Alchemy Pay provides 200 payment channels in more than 65 countries/regions through cooperation with industry giants such as Binance, Shopify, Arcadier, and QFPay, and has established connections with more than 2 million merchants.

website: alchemypay.org

Twitter:twitter.com/alchemypay

telegraph: t.me/alchemy_official

About avalanche

Avalanche is the fastest smart contract platform in the blockchain industry, measured by completion time, and has the most validators to protect any of its proof-of-stake agreement activities. Avalanche is extremely fast, low cost and environmentally friendly. Any application that supports smart contracts can surpass its competitors by deploying on Avalanche. Do not believe? Try the avalanche today.

website: avax.network

Twitter:twitter.com/avalancheavax

telegraph: t.me/avalancheavax


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