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