Alchemy Pay: Bridging the Global Economies of Fiat and Cryptocurrencies
separate law, the Transfer of Funds regulation, was passed, requiring crypto operators to confirm the identity of their customers in order to halt money laundering transactions.
Currently, it has established solid partnerships with international payment channels such as Visa, Mastercard, Discover, Diners Clubs, Google Pay, Apple Pay and hundreds of local payment channels, and is gradually expanding a larger network of partners. A year later, the Alchemy Pay team followed up with Crypto Payment, the world’s first hybrid payment merchant acceptance system that allows merchants to accept payments in both cryptocurrencies and fiat currencies from their customers. “This is the equivalent of a ‘hands off’ system.” Robert McCracken, the head of the Alchemy Pay ecosystem explained, “We accept cryptocurrency payments on behalf of merchants and convert them to fiat currency for settlement in the merchant’s local fiat currency.
“On & Off-ramp is our payment solution.” Robert explained in the interview, “On-ramp is deployed as a plugin that the Web3 platform can host on their website so that users can use legal payment methods such as Visa, Mastercard, Apple Pay, Google Pay, local bank transfers and commonly used local digital wallets to securely purchase cryptocurrencies.
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