Bridging the Global Economies of Fiat and Cryptocurrencies – Sponsored Bitcoin News

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On April 20, the European Parliament approved the first comprehensive EU-wide crypto regulation, Markets in Crypto-Assets (MiCA). On the same day, a separate law was passed, the Transfer of Funds Ordinance, which requires crypto operators to verify the identity of their customers to stop money laundering transactions.

While crypto regulation around the world is becoming increasingly strict, Alchemy Pay is growing and expanding rapidly in the cryptocurrency payments space as a payment solutions provider bridging global fiat and crypto currencies for users in 173 countries. All these achievements started from a forward-looking insight into the revolutionary potential of crypto – the team believes that by creating a seamless gateway between traditional finance and crypto-assets, they can make the new technology more widely available and provide easier access to financial services for businesses and individuals in different countries and regions.

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.

Recently, Shawn Shi, the founder of Alchemy Pay, was selected as one of the “2022 Forbes China Web 3.0 Innovation Pioneers”. At the same time, Alchemy Pay has established a brand standard for its professionalism, reliability and availability as a professional and serious payment solution provider that bridges the gap between fiat and cryptocurrencies in the global economies.

Dedicated for five years to provide mainstream friendly crypto payment solution

In 2017, The Alchemy Pay project was built and launched by a team of payment experts who had come from years of experience in Singapore, America, Europe with the likes of HSBC, Mastercard, Paypal and Visa. A year later, the Alchemy Pay team followed up with Crypto Payment, the world’s first hybrid payment system that enables merchants to accept payments in both cryptocurrencies and fiat currencies from their customers. “This is equivalent to 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.”

From there, the services offered by Alchemy Pay have gradually expanded in four main directions, including on-ramp, off-ramp, NFT cashier and cryptocurrency payment acceptance systems, bringing forth a diverse range of solutions, while some convergence and crossover between four segments.

“On & Off ramp is our payment solution.” Robert explained in the interview, “On-ramp is distributed as a plugin that the Web3 platform can host on their website, allowing users to use legal payment methods such as Visa, Mastercard, Apple Pay, Google Pay, local bank transfers and commonly used local digital wallets to safely buy cryptocurrencies Off-ramp is also a feature of the plugin that works in a reverse way, allowing users to sell their cryptocurrency for fiat currency and send the money directly to their personal bank account, making it very easy , convenient, secure and compatible for users to buy and sell cryptocurrency. NFT checkout is a relatively new solution, with the ability to easily buy NFT using fiat currency payment methods. This is an easier and more convenient way for both cryptonatives and users who are not familiar with Web3.”

After more than five years of development, Alchemy Pay has gained more experience than any other project in the cryptocurrency payment industry – it identifies the needs of cryptocurrency native users, constantly updates and iterates the service, and comes up with solutions with mainstream user-friendliness. Alchemy Pay is accessible almost anywhere in the world to people of all technical backgrounds, which has built platform barriers within the crypto payment field.

In the first years of development, Alchemy Pay focused on the Asian market, gradually expanding to Europe and America. By 2021, Alchemy Pay will have established payment touchpoints with over 2 million merchants in over 70 countries worldwide. In the past year, Alchemy Pay has focused its business on expanding its global network of payment and remittance partners, partnering with more exchanges and mainstream blockchain networks, and moving towards providing direct-to-customer (D2C) payment solutions.

Put vision in the global, mess in the local

As the business continues to expand, Alchemy Pay has evolved into a truly global organization. At the same time, the team found that constructing a rigid hierarchical structure can stifle creativity and productivity and limit organizational growth.

As a result, at the end of 2022, Alchemy Pay implemented an “Advisory Board Management System”, invite global experts to take responsibility for different departments such as compliance, product, security, etc., where they can participate in decision-making, provide more professional advice and focus their talents in areas where they can achieve their true potential. “Because one person cannot be good at everything, we have implemented a committee-based advisory and management system.” When asked about the original reason for the system, Robert explained, “We believed a decentralized structure would allow our team to thrive and grow healthily. This setup has been very successful in allowing a real sense of teamwork.“

David Plouffe, the former Senior Advisor in the White House and legendary campaign manager, have also recently chosen to join Alchemy Pay and served as a committee member of Alchemy Pay’s management and advisory board, and is responsible for strategy, compliance and government relations as a global strategic advisor. Plouffe is credited with the strategy and knowledge of grassroots public engagement that won Obama’s presidential campaign in 2008. After working for Obama, Plouffe became Senior Vice President of Policy and Strategy for Uber, and in 2022 Plouffe joined the Binance Global Advisory Board.

Currently, Alchemy Pay has core talent and expert managers in all departments. Ethan Wang has been a driving force for the technology team, he is the technical lead of the Google Cloud Web3 team and one of the founders of the team. He also previously worked for Facebook Libra as a technical lead and a founding team member; Andy Ng has over 20 years of experience deep diving into product; Jonas Cernius leads the compliance team from Europe, because he has over 10 years of combined experience in official and financial compliance and has extensive experience in legal business. Robert said, “We welcome talented people from all over the world to join us and build Alchemy Pay with us!”

By building a pool of talent with roots in the local market, Alchemy Pay puts more emphasis on local payments, making it easier and faster for local users to use the payment services it offers. Alchemy Pay has a significant edge in the industry when it comes to local payments as it currently supports 300+ local payment channels such as OVO and DANA in Indonesia, GCash in the Philippines and many more. At the same time, this team model has allowed Alchemy Pay to gain an advantage in global policy and compliance, “Any change in the global regional regulatory environment is important to us and can lead to changes and trends in the payment space, so we will keep an eye out for the latest trends and changes.said Robert.

In recent years, Alchemy Pay has seen the potential for cryptocurrency demand in Southeast Asia and Latin America, tailoring payment solutions and focusing its marketing efforts on these regions, and has developed operational strategies to market its products in line with local market conditions. Alchemy Pay has also built a strong reputation and competitiveness for its products by partnering with celebrities and notable organizations to promote its payment products and expand the brand’s local presence.

“Our mission is to bridge the gap between the fiat and crypto economies.” Speaking about Alchemy Pay’s long-term vision, Robert expressed the team’s desire to create a sustainable and evolutionary project that solves the problems of connecting the traditional financial world to the cryptocurrency world.

He concluded with Alchemy Pay’s mission and vision: “Our ultimate goal is to make it easy for people around the world to use and access a more decentralized, open and fair form of finance. We want Alchemy Pay to represent a crypto payment solution that stands the test of time and values ​​user feedback. To achieve this, we will focus on refining and improving our product while adopting a long-term mentality to meet the long-term needs of our users.”

Source:Forbes

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