Direct Fiat On-Ramps Come to Algorand (ALGO) via Alchemy Pay (ACH)
Algorand (ALGO), the layer-1 blockchain for decentralized and traditional finance, has added direct fiat payment channels into their network, thanks to a new integration with Alchemy Pay (ACH). Alchemy Pay, is a payment solutions provider that connects fiat and crypto economies, and its global merchant network now supports Algorand’s $ALGO token for payments in 65 countries. Algorand also announced it has joined the Blockchain Infrastructure Alliance which was inaugurated in October by Alchemy Pay, NEO, NEAR, and Polygon.
The integration with Alchemy Pay will enable Algorand to onboard users via fiat payment standards like Visa, Mastercard, PayPal, and countless other local payment channels around the world. The ability to bring new users to the Algorand ecosystem via these mainstream payment methods will increase adoption by making access direct and bypassing the complications of crypto exchanges that can be a barrier to entry for many.
The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.
About Alchemy Pay
Alchemy Pay is an integrated fiat and cryptocurrency gateway solutions provider, powering seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions. The company drives adoption of blockchain technology by making crypto investment, commercial transactions, and DeFi services readily accessible to consumers and institutions in the fiat economy. Today, Alchemy Pay supports over 65 countries with 200 payment channels and has touchpoints with more than 2 million merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay, and more.
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https://finance.yahoo.com/news/direct-fiat-ramps-come-algorand-100200660.html
