On November 6, 2021, Karmen Tang, Chief of Staff at Alchemy Pay, delivered a keynote speech at the Epicenter Crypto Conference in Lisbon, detailing how the company’s unique crypto-fiat hybrid payment solution is bridging the gap between digital assets and traditional finance. Tang emphasized that the founding team hails from payment giants like Mastercard, QFPay, PayPal, and Tencent, giving Alchemy Pay a distinct edge in experience, expertise, and networking.
Significant Network Growth
Over the past year, Alchemy Pay has achieved remarkable expansion: integrating PayPal channels in Q4 2020, followed by Visa and MasterCard access earlier in 2021. Today, the platform operates in over 60 countries and provides 200+ payment channels for both fiat and crypto. Key partnerships include Shopify and Binance. The company’s native token, ACH, launched on Coinbase this summer, resulting in a 150-fold increase in value. ACH is now also supported by Gemini, Crypto.com, Poloniex, CoinOne, and Changelly. The social media community has grown to over 200,000 followers across Twitter, Telegram, and Reddit. Tang also revealed a new joint venture with a major Middle Eastern conglomerate (name undisclosed due to NDA).
Hybrid Solution and Fee Savings
Alchemy Pay’s hybrid payment solution enables seamless crypto payments of any size while bypassing costly interchange fees. Merchants can expect to save 50-70% compared to traditional digital payments, with settlements completed within two to three days. This addresses the critical lack of real-world crypto use cases, making everyday transactions efficient.
White-Label Products and Tokenization
Alchemy Pay offers white-label products, including crypto-linked cards and business-specific loyalty tokens. Merchants can issue virtual cards linked to Mastercard and Visa and reward users with branded token purchases. “We recognize the huge potential in tokenization offered by blockchain,” Tang stated.
Blockchain Infrastructure Alliance (BIA)
To tackle fragmentation and lack of interoperability in the crypto payment space, Alchemy Pay co-founded the Blockchain Infrastructure Alliance (BIA) alongside Polygon, NEAR, NEO, Conflux, and investment veterans. The BIA will pool resources for promotion, research, and development, create ecosystem funds with public blockchains to incubate high-quality projects, and collaborate with over 30 academics from top global universities.
Societal Benefits and Vision
Concluding her speech, Tang stated: “Crypto is gradually disrupting traditional finance, unlocking a multi-trillion dollar opportunity. We envision a world of greater financial empowerment, inclusion, and transparency.” Alchemy Pay’s crypto-fiat gateway is positioned to play a pivotal role in making crypto payments work seamlessly for everyone.