Alchemy Pay Aims to Launch Web 3.0 Digital Bank in 2024 – Fintech Singapore

Alchemy Pay, a global crypto payment service provider, has unveiled its strategic roadmap for 2024, focusing on expanding its payment services and integrating new technologies.

As the crypto industry continues to evolve with the Bitcoin halving and upgrades in Ethereum’s network, Alchemy Pay aims to enhance its services to meet the growing demand for crypto payments worldwide.

The company’s key initiatives for 2024 include advancing its ramp service to achieve 100% global payment coverage, enhancing its crypto card to support more fiat currencies and integrate with major digital payment platforms, and launching a Web 3.0 digital bank in collaboration with crypto-friendly banks in Europe.

Alchemy Pay plans to expand its service with its existing coverage spanning 173 countries and regions, to include local payment methods in every country where crypto usage is unrestricted, aiming to introduce over 40 new payment channels. This move is expected to significantly increase accessibility for users worldwide.

The company’s ramp solution will also receive an upgrade to support all tokens across various blockchains. By enabling seamless fiat-to-crypto transactions, Alchemy Pay seeks to empower both users and crypto entrepreneurs.

Moreover, Alchemy Pay is set to enhance its crypto card, which has already attracted over 500,000 users since its launch. The card will have full compatibility with major card networks including Visa, Mastercard, American Express, Diners Club, JCB, and Discover.

Additionally, the crypto card will integrate with popular digital payment platforms like Apple Pay, Google Pay, and Samsung Pay, allowing users to easily add the prepaid virtual card to their wallet apps. It will also will broaden its support to encompass additional fiat currencies like HKD and EUR.

The introduction of a Web 3.0 digital bank represents another significant milestone for Alchemy Pay. This initiative, pending the acquisition of regulatory licenses, will offer personal and multi-currency accounts for individual users and Web 3.0 companies, respectively. It aims to streamline the process of managing finances across fiat and cryptocurrencies.

To ensure compliance and security, Alchemy Pay plans to acquire over 20 regulatory licenses globally, facilitating the compliant deployment of its products and services.

Featured image credit: Edited from Freepik

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• Source: https://fintechnews.sg/89518/crypto/alchemy-pay-aims-to-launch-web-3-0-digital-bank-in-2024/