Alchemy Pay, founded in Singapore in 2018, has emerged as a pivotal player in the payment solutions sector. Seamlessly connecting fiat and crypto economies, Alchemy Pay caters to global consumers, merchants, developers, and institutions. With its innovative infrastructure, it enables both online and offline merchants to accept a variety of fiat and crypto payments, simplifying the onboarding process to blockchain ecosystems. Its services extend across over 70 countries through more than 300 payment channels, touching over 2 million merchants thanks to partnerships with industry giants like Binance, Shopify, NIUM, and QFPay. In a rapidly evolving financial landscape, Alchemy Pay stands out by making web3 services highly accessible and bridging significant gaps in global finance.
What is Alchemy Pay?
Alchemy Pay (ACH) is a payment solutions provider that seamlessly connects fiat and crypto economies for global consumers, merchants, developers, and institutions. It provides online and offline merchants with convenient acceptance of both fiat and crypto, enables easy onboarding to blockchain ecosystems, and makes DeFi services highly accessible.
Why Alchemy Pay?
Alchemy Pay supports cryptocurrency’s mission to provide people of all economic and geographic backgrounds with equal access to global finance. Our founding team’s experience in traditional finance and technology puts Alchemy Pay in a unique position to overcome long-standing barriers and drive mainstream adoption.
How Does Alchemy Pay Work?
Alchemy Pay achieves seamless movement of funds between fiat and crypto by connecting a large number of leading blockchain entities, over-the-counter and crypto exchanges, remittance companies worldwide. Commercial businesses and developers access Alchemy Pay’s services by integrating payment channels, APIs, and other SaaS solutions.
Tokenomics and Distribution Model
The Alchemy Pay (ACH) token operates as an ERC20 utility token on the Ethereum blockchain and has a total token supply of 10,000,000,000 ACH, with 7,411,175,995.94 ACH currently in circulation. The tokenomics of ACH include various allocations and utility functions.
Token Utility Allocation (62% Total):
- Enterprise Transaction Rewards (40%): Reserved for rewarding enterprises using Alchemy Pay's payment channels and transaction functions for the sale of goods and services. Rewards are unlocked monthly over 60 months.
- Consumer Transaction Rewards (11%): Allocated for rewarding consumers for transactions conducted through Alchemy Pay's gateways. Rewards are unlocked monthly over 60 months.
- DeFi Transaction Rewards (11%): Reserved for rewarding transactions within the Alchemy Pay DeFi ecosystem. Rewards are unlocked monthly over 60 months.
- Transaction Mobility (6%): Reserved to facilitate timely transfers and usage of ACH, with restrictions on selling into secondary markets without 1-to-1 replacement.
- Enterprise Partners (5%): Reserved for incentivizing early enterprise partners to drive use cases and contribute to the ACH community. Unlocked in stages based on agreed milestones.
Stakeholders Allocation (38% Total):
- Team (18%): Allocated for market expansion and operational growth by the Alchemy Pay team. Unlocked in equal proportions over 36 months.
- Backers (18%): Funds raised for early development.
Purpose and Utility of the Alchemy Pay Crypto Token
The Alchemy Pay crypto token, ACH, is an ERC-20 token that operates on the Ethereum blockchain and serves as the native token of the Alchemy Pay system. The purpose and utility of the ACH token are to bridge the gap between crypto and traditional fiat currency by incentivizing the use of cryptocurrency.
Alchemy Pay aims to solve the problem of limited acceptance of cryptocurrencies as payment by businesses. The ACH token is used by merchants who sign up to use Alchemy Pay to access the network, while customers can mine ACH by participating in the network. Holders of ACH tokens can take part in the governance of the system, and the tokens can be pledged, rewarded, accumulated, and paid as fees, providing flexibility within the network.
Unique Features and Benefits
Alchemy Pay's unique features include:
- Crypto-Fiat Ecosystem: Alchemy Pay's ACH token is at the heart of the world's first hybrid crypto-fiat payment infrastructure, which supports a comprehensive crypto-fiat transaction.
- Decentralized Network Protocols: Alchemy Pay's decentralized network protocols improve operational efficiency and reduce operating costs by providing comprehensive support for cryptocurrency payments in various transaction scenarios, fast access to necessary SDKs, plugins, and APIs, and decentralized network protocols for operation and governance networks.
- Smart Contract Interfacing: Alchemy Pay offers visual, simple, and standardized smart contract interfacing to lower the threshold for commercial use of smart contracts.
- Self-evolving Communities and Open Ecosystems: Alchemy Pay's network encourages innovation technology companies to join the community and promote the development of the industry's public chain.
Market Data
- Current Price: $0.0328
- Market Cap: $243,209,064.14
- 24h Price Change: -1.12%
- 7d Price Change: 12.30%
- 30d Price Change: 79.17%
- 24h High: $0.0343
- 24h Low: $0.0327
- All-Time High: $0.1975 (2021-08-06T16:38:07.000Z)
- All-Time Low: $0.0013 (2021-07-20T10:13:30.000Z)
- Circulating Supply: 7,411,175,995.94
- Total Supply: 10,000,000,000.00
Team Behind Alchemy Pay
The Alchemy Pay crypto token is backed by a team of experienced professionals with diverse backgrounds and expertise in the blockchain and technology industries. Here are some of the core team members:
- Shawn: Shawn is the founder of Alchemy Pay and a former executive of many publicly listed companies and a partner of well-known investment funds. His extensive experience in the financial and investment sectors has been instrumental in shaping Alchemy Pay's vision and strategy.
- Nikil Viswanathan: Nikil is the co-founder and CEO of Alchemy, the world's leading blockchain developer platform. He has been honored as Forbes 30 Under 30 and has a strong background in computer science, having received his BS & MS in Computer Science at Stanford. He has also held product management roles at Google, Microsoft, and Facebook. Nikil's experience in building successful consumer applications and his deep understanding of blockchain technology make him a valuable asset to the Alchemy Pay team.
- Joe Lau: Joe is the co-founder and CTO of Alchemy. He has a strong background in engineering and computer science, having graduated with both an undergraduate and master's degree in computer science from Stanford University. Joe has also held engineering roles at Pinterest, Google, and LinkedIn. His expertise in building scalable and secure systems is crucial to Alchemy Pay's success.
- Balaji Srinivasan: Balaji is a former
