Alchemy Pay, a payment gateway that bridges the gap between fiat and cryptocurrencies, is making strides in the digital currency ecosystem with its recent partnership. In a move set to streamline cryptocurrency transactions, Alchemy Pay has announced its collaboration to support popular stablecoins, Tether’s USDT and Circle’s USDC, on the Celo blockchain network.
The integration provides users in 173 countries the ability to acquire Celo-native USDC and USDT directly using local fiat currencies. This partnership is extensive in its reach, offering support for over 50 different fiat currencies, thereby simplifying the path from traditional money to digital assets.
Celo has already established USDT and USDC tokens on its mainnet, thereby allowing for seamless conversion between fiat and cryptocurrencies within its network. The Celo blockchain is designed to facilitate speedy and efficient global payments, especially geared towards mobile users – a goal that aligns with Alchemy Pay’s mission of fostering easy crypto transactions.
This enhancement is not Alchemy Pay’s first venture with Celo’s offerings. Prior to this, cUSD, the Celo Dollar stablecoin, and CELO tokens were integrated onto Alchemy Pay’s platform. This allowed users to engage with these digital assets without complication, ensuring compliance and accessibility.
Celo’s overarching aim is to construct a resilient digital financial ecosystem, something that’s bolstered by its foundational design, which is EVM (Ethereum Virtual Machine) compatible. This compatibility is crucial as it allows for broad use and integration opportunities across the crypto world.
Alchemy Pay’s network spans an impressively wide range of jurisdictions globally – 173 to be exact – in which it offers its services for cryptocurrency assets. With over 1,000 collaborators spread over 150 jurisdictions, Celo’s infrastructure contributes to this synergy, building a potent combination for increased adoption and usage of digital currencies.
This new feature enhances the robustness of Celo’s existing financial infrastructure. With its focus on mobile-first blockchain technology, the network is targeting a vast population of mobile users, underscoring the importance of a crypto ecosystem that is not only inclusive but also extensive in its reach. Alchemy Pay’s involvement signifies a strong step towards making cryptocurrency transactions as ubiquitous and straightforward as traditional fiat transactions. As the collaboration unfolds, it stands to have substantial impacts on the accessibility of stablecoins across different markets, thereby contributing to the mainstreaming of digital currencies worldwide.
