Leading crypto exchange Binance is making moves to expand the benefits its users can enjoy across the economy. With this Binance and Alchemy Pay partnership, Binance users will be able to make crypto payments to millions of merchants via Binance Pay.
Alchemy Pay to Expand Crypto Adoption in Merchant Network
Crypto-fiat hybrid payment platform Alchemy Pay currently operates in 18 countries. However, it also runs a global crypto-fiat payment platform in 65 countries. Alchemy Pay operates through 300 fiat and crypto payments channels. Apart from facilitating crypto payments, Alchemy Pay also supports its own Ethereum-based native toke ACH. ACH has been performing so well lately, recording a price surge of over 1680% in two weeks. At present time, ACH is currently trading at $ 0.02668.
Expansion of crypto support in merchant network and financial entities is the focus of Alchemy Pay. In the Binance and Alchemy Pay partnership, 40 cryptocurrencies will be used for payments in roughly 2 million global merchants.
The deal with Alchemy Pay will give Binance access to users in the crypto-fiat hybrid platform’s partners such as e-commerce giant Shopify, software technology company Arcadier, Hong Kong-based Pricerite, and mobile payment provider QFPay among others. In 2018, Shopify declared that it served 218 million users on its platform. Builtwith reported that 1.58 million websites will run on the Shopify platform.
Leading Crypto Exchange Binance to Anticipate Success in Alchemy Pay Deal
Considering these impressive figures, Binance users have a lot of options to spend their crypto on. Binance opened up peer-to-peer payments in February. The following month, it proceeded to add the feature where merchants can accept crypto payments via Binance Pay.
A Binance and Alchemy Pay partnership is not something new. In the past, the two came together to widen the adoption of Binance’s stablecoin BUSD in Singapore. In the April 2020 deal, crypto-fiat hybrid payment platform Alchemy Pay enabled Binance USD payment in several merchant stores. Since then, BUSD has grown to be one of the leading stablecoin in the crypto market. It is another factor why leading crypto exchange Binance should be hopeful about the success of this latest partnership.