SWFT integrates crypto payment ramp with Alchemy Pay

SWFT Blockchain has announced the integration of the crypto on/off ramp mechanism of Alchemy Pay. It will allow users to buy cryptocurrency directly through fiat currency, and in addition, users can exchange fiat currencies for digital currency through the transfer of their bank accounts.

The integration comes as a useful feature not only for the platform, but for the ecosystem as a whole. Many users hesitate to register on a platform out of the feeling that they will have to easily give up their fiat holdings. However, that is no longer the case and they will still be able to access the fiat currency until they are sure to continue with the cryptocurrency.

SWFT’s blockchain and AI technology supports over 400 cryptocurrencies. These include Bitcoin, Ethereum, Arbitrum, Polygon, BSC, Polygon and Terra, to name a few of many public and private blockchains.

Users have the option to choose any cryptocurrency and start their journey with virtual holdings. Advanced users can also access these features. Other features that will be available to new and experienced users are:-

• Aggregate Transactions
• Social Media
• Mining pools
• Group investment

The SWFT mobile application can be downloaded from the Apple and Google app stores.

SWFT recently launched a feature that caught everyone’s attention – the NFT Swap section. The feature gives users access to NFT trading platforms such as LooksRare, OpenSea, Treasureland, Rarible and Bakeryswap.

It now only takes one click for users to exchange any token of their choice for an NFT, facilitating the seamless flow of tokens and assets for the users and creators of DeFi and NFTs.

Alchemy Pay’s integration with SWFT helps the latter gain new users who want to get on board with fiat currencies worldwide. Alchemy Pay’s ramp payment solution is integrated into platforms such as DeFi and NFT marketplaces.

The workflow is quite simple and works like a traditional payment system. Users initiate the purchase of a crypto token through their debit/credit card. Once the transaction is processed, cryptocurrencies of the desired value are transferred to the user’s crypto wallet address.

It works the other way around too, where crypto to fiat exchange is made possible for 50+ fiat currencies.

Alchemy Pay offers alternative payment methods, also known as APMs, and other global fiat payment channels. These are available in the region where such technologies experience the highest adoption rate.

SWFT integration of Alchemy Pay’s crypto payment ramp plugin is a great move to make all users comfortable with their position on the platform. The fact that new and experienced users can access both makes it better.

Getting cryptocurrencies will now be like buying units for the fiat currency paid by the users through a debit or credit card. Users will also be able to exchange it for fiat currency in the same way.