Scalable Blockchain IoTeX to integrate Web3 Platform Alchemy Pay

A strategic alliance has been established between IoTeX, a blockchain platform known for its scalability, security and speed, and Alchemy Pay, a payment service platform focused on Web3. IoTeX is set to integrate Alchemy Pay’s payment solution for on- and off-ramp transactions into its ecosystem as part of the collaboration.

IoTeX’s plan is to incorporate Alchemy Pay’s module into the platform, which will allow developers and dApps to integrate the payment provider’s on- and off-ramp functionality. This feature facilitates the ability for international customers to purchase and exchange cryptocurrencies through their preferred payment methods and domestic legal tender. The collaboration involves providing a platform for consumers to purchase IOTX, which is the native currency of IoTeX, using fiat currency directly on the Alchemy Pay landing page.

The partnership between Alchemy Pay was announced through a blog post on Medium. The post indicated that the company’s ability to integrate with payment platforms, including MasterCard and Visa, spans nearly 173 countries. Furthermore, it has been revealed that both Apple Pay and Google Pay are compatible. Furthermore, it facilitates regional transactions along with mobile wallets that work within specific markets.

According to Alchemy Pay, their payment platform offers an easy-to-use payment experience for users. The statement further explained that the platform offers an extensive selection of over 300 local payment channels to increase user-friendliness. Furthermore, the partnership between Alchemy Pay and the remittance partners facilitates an unprecedented conversion process between cryptocurrency and traditional fiat currency.

This enables the transfer of funds to bank accounts with over fifty different fiat currencies. The IoTeX platform is recognized for its flexibility in providing Web3 infrastructure. This technology facilitates the integration of blockchains with concrete data and smart devices. The company’s vision is centered on enabling individuals to take ownership of their devices, identity and data within the realm of connectivity.

By leveraging blockchain technology, IoTeX showcases the capabilities of data and smart devices. Moreover, this will enable the development of digital assets and decentralized applications (dApps). The organization incorporates actual data with blockchain technology to empower customers to create digital assets that are based on their real actions and data.