Today, via a blog post, Alchemy Pay announced a collaboration with a prominent ultra-secure blockchain network, IoTeX. As stated in the announcement, the two firms will work on providing an efficient solution for on and off-ramp services within the IoTeX ecosystem.
To actualize this pursuit, IoTeX will leverage the plugins of the payment platform in assisting developers and dApps on its network to seamlessly integrate on and off-ramp functionality. Consequently, aiding users to buy and sell cryptocurrency using their preferred payment methods and fiat.
Also, the partnership will give more visibility to IoTeX. The network will leverage the popularity of Alchemy Pay to extend its services to new users. Similarly, the collaboration will provide a pathway for users to acquire the native token of IoTeX with fiat through the ramp page of Alchemy Pay. This implies that users across 173 countries can acquire the native token based on Alchemy Pay’s support for Visa, MasterCard, Apple Pay, Google Pay, and domestic transfers.
More so, the announcement established that the partnership will further reinforce IoTeX’s overall strength and make it a force to reckon with in the industry. Alchemy Pay through the announcement provided insight into how IoTeX functions. The firm described its new partner as a “modular Web3 infrastructure platform that connects intelligent devices and real-world data to blockchains.” Further, the announcement indicated that IoTeX is focused on empowering individuals to own their data, devices, and identity in a connected world.
Side notes on Alchemy Pay
In 2023, Alchemy Pay focused fully on extending its services to more users. In that regard, the payment firm has collaborated with numerous organizations to onboard new users. On May 16, 2023, Alchemy Pay collaborated with Celo, a layer-1 network to integrate Celo and USD into its Pay on-ramp system. CELO is a native token to the Celo network. Furthermore, the integration provided a pathway for network participants of Celo to explore various DeFi solutions. Also, it provided convenient ways through Alchemy Pay’s payment system to acquire CELO and cUSD.
Similarly, on May 8, 2023, Alchemy Pay partnered with Shido Wallet. As a result of the collaboration, the payment firm deployed its on-ramp and off-ramp systems on the wallet. Consequently, providing users of Shido Wallet with numerous ways of funding and withdrawing funds from their wallet. Shido, like IoTeX, gained more recognition owing to the collaboration.