Alchemy Pay (ACH)

Payment Gateway

Alchemy Pay provides a hybrid payment system that allows merchants and consumers to accept and pay with both fiat money and cryptocurrencies. It supports online and offline payments, making it easier for businesses to accept crypto alongside traditional currencies.

Crypto-Fiat Bridge

It acts as a bridge between the crypto world and traditional finance by enabling seamless transactions and settlements across both fiat and digital currencies. This helps reduce friction when using crypto for everyday purchases.

Token Utility

The ACH token is used within the Alchemy Pay ecosystem to pay network fees, earn rewards, and incentivize participation from merchants, users, and partners.

Financial Services

Alchemy Pay offers access to decentralized finance (DeFi) services and crypto investments, making blockchain technology more accessible to both new and experienced users.

Partnerships and Integration

The platform integrates with major players like Binance, Shopify, and MEXC Global, expanding its reach to millions of merchants and users worldwide.

Future Developments

Plans include launching virtual cards and integrating real-world assets (RWAs) to expand financial services, aiming to create a unified portal for both traditional and digital finance.

Pros

• Alchemy Pay connects fiat and crypto economies smoothly, allowing merchants and consumers to pay with both traditional money and cryptocurrencies.
• It supports over 70 countries and 300 payment channels, reaching more than 2 million merchants worldwide.
• Offers both online and offline payment solutions, making crypto payments accessible in many real-world scenarios.
• Provides fee discounts when paying transaction fees with ACH tokens.
• Enables easy onboarding to blockchain ecosystems and DeFi services.
• Has partnerships with major companies like Binance and Shopify, enhancing its network and usability.
• Supports multiple payment methods including credit cards, bank transfers, and mobile wallets.
• Continuously improving with new products and integrations, such as virtual cards and NFT checkout services.

Cons

• Some users report customer support issues, including delays and automated responses.
• The crypto market volatility can affect the value of ACH tokens.
• Certain restrictions or risk control rules may apply to accounts, sometimes without detailed explanations.
• The platform may not be equally usable for all user segments due to regional or regulatory differences.
• Transaction fees (gas fees) depend on network conditions and can vary.

Overall, Alchemy Pay offers a strong bridge between fiat and crypto payments with wide global reach and multiple use cases, balanced by some user experience and market-related challenges.

Founders of Alchemy Pay

Alchemy Pay was founded in 2018 by Shawn Shi and Molly Zheng. They brought years of experience from working with companies like HSBC, PayPal, QFPay, and Mastercard.

Investors in Alchemy Pay

Alchemy Pay has attracted investments from various sources, including strategic partners and venture capital firms. Some notable investors and partners involved with Alchemy Pay include:

• World Liberty Financial Inc. (WLFI): Partnered with Alchemy Pay to integrate the USD1 stablecoin on-ramp, expanding stablecoin access globally.
• EZPG Co., Ltd. (South Korea): Alchemy Pay invested in this company to acquire an Electronic Financial Business registration, enabling broader financial services in South Korea.
• Various Venture Capital and Crypto Funds: While specific names are not fully disclosed publicly, Alchemy Pay has raised funding rounds involving multiple investors focused on fintech and blockchain sectors.

The company also benefits from partnerships with major payment networks like Visa, Mastercard, Apple Pay, and Google Pay, which support its global payment infrastructure.

For the most detailed and updated list of investors, official company disclosures or platforms like Crunchbase and PitchBook can be referenced.

Halal Status of Alchemy Pay

Yes, Alchemy Pay is considered halal. It functions as a digital payment system that bridges crypto and fiat currencies, similar to how Visa or Mastercard operate in traditional finance. The token is used for utility and rewards within the ecosystem, and it supports crypto payments without involving interest (riba) or prohibited activities, aligning with Islamic finance principles.