### What is Alchemy Pay?

Alchemy Pay (ACH) is a hybrid crypto-fiat payment infrastructure designed to bridge the gap between digital and traditional currencies. It offers merchants and customers various settlement options for both cryptocurrencies and fiat currencies, enabling seamless integration of blockchain transactions with the conventional financial system.

### How does Alchemy Pay work?

Alchemy Pay operates primarily through the Ethereum blockchain, using ERC-20 tokens for its native ACH token. The platform is launching its own Layer-1 blockchain, known as Alchemy Chain, which will utilise a Trusted Proof-of-Authority (TPoA) consensus mechanism for efficient transaction validation. Alchemy Pay incorporates smart contracts and Layer-2 solutions to enhance payment scalability and enable smooth integration with existing payment infrastructures.

### What are the potential use cases for Alchemy Pay?

Alchemy Pay facilitates real-world applications of cryptocurrencies across various domains. Potential use cases include:

- **Real-world Payments:** Supports transactions for dining, shopping, and renting services through partnerships, like with BNB Chain for power bank rentals.
- **Gaming and NFTs:** Enables secure and easy crypto transactions for gaming platforms and NFT purchases.
- **Web3 and DeFi Services:** Provides infrastructure for Web3 enterprises by integrating fiat-crypto conversion and multi-fiat account setups.
- **E-commerce and Financial Services:** Offers solutions for businesses wanting to accept or integrate crypto payments into their existing systems.

### What is the history of Alchemy Pay?

Founded in 2018 in Singapore, Alchemy Pay was established by former employees of PayPal, HSBC, and Mastercard. Since its launch, it has developed a crypto-fiat acceptance system and formed numerous partnerships with prominent companies, such as Shopify and Checkout.com. The company continues to expand its global presence, integrating its payment solutions with major blockchain networks and collaborating with partners to enhance its offerings.

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