Why Is Alchemy Pay (ACH) Pumping? Startup Integrates with Google Pay

ACH, the native crypto for payments infrastructure company Alchemy Pay, saw a significant price hike overnight after the firm announced its partnership with Google Pay to facilitate crypto-to-fiat payments across different countries. 

According to CoinMarketCap data, the token rallied over 70% to $0.0459 after trading around $0.0244 in the last 24 hours. The latest surge marks the first time since this month the token crossed $0.03. 

Alchemy Pay Integrates Google Pay to Support Fiat Payments 

In a blog post on February 20, Alchemy Pay said it had integrated Google Pay into its On & Off Ramp services launched in June 2022 to enable users to purchase digital assets using fiat currencies.

 The collaboration between the duo provides a secure platform for Android and Apple users to access various cryptocurrencies while allowing users to take custody of the assets upon purchase. 

Aside from Google Pay, the Alchemy Pay ramp solution is currently supported across various decentralized finance (DeFi), non-fungible tokens (NFTs) marketplaces, crypto wallets, and centralized exchanges (CEXs). 

The Singapore-based payment gateway also recently integrated the ramp solutions into the Ethereum Name Service (ENS) and the Binance Pay to reach more users. 

The company said it has partnerships with other industry market leaders and service providers, including  Polygon, Avalanche, Algorand, and Arbitrum.  

Fully Customizable 

According to Alchemy Pay, the ramp solution can fully support any token, irrespective of its blockchain. Interestingly, the payment services are also customizable and can be integrated with full support through API and plugin.

With the integration of the payment program into Google Pay, customers worldwide can use USD, EUR, KRW, SGD, AUD, TWD, TRY, CAD, JPY, AED, NZD, and HKD to purchase digital assets from various jurisdictions.

Interested users outside the United States can also use the U.S. dollar to buy crypto. 

Alchemy Pay also noted that its ramp solution supports both Visa and MasterCard in 173 countries, including Europe, Asia, and Latin America by tapping into the popular payment methods available in the regions, such as GCash in the Philippines (60M users); OVO (92M users) and Dana (115M users) in Indonesia; Pix in Brazil (116M users)

“Beyond Google Pay, Apple Pay, Alchemy Pay supports Mastercard and Visa in 173 countries such as  SEPA in Europe, and furthermore supports particularly high utilities in Asia and Latin America by supporting highly popular regional payment methods in emerging markets,” the company said. 

Image: Midjourney