Alchemy Pay, leading fiat-crypto payment solution provider has announced its new integration with stablecoin issuer Agora to support $AUSD, Agora’s fiat-backed digital dollar. Alchemy Pay confirmed the development in a press statement released on Thursday.
It’s worth noting that with this integration, global users across 173 countries can now purchase AUSD directly using local fiat currencies through Alchemy Pay’s seamless on-ramp solution. It also allows users to gain access to Alchemy Pay extensive global payment infrastructure. This payment infrastructure also supports over 50 fiat currencies and 300+ payment methods including Visa, Mastercard, Apple Pay, Google Pay, local bank transfers, regional mobile wallets. Similarly, this makes acquiring AUSD more accessible to both retail and institutional users across diverse jurisdiction.
Notably, the AUSD stablecoin is designed with an institutional-grade reserve framework, with all reserves held in custody by State Street. This is one of the world’s largest and most trusted financial custodians. The reserve assets includes cash, short-term U.S Treasuries, and overnight repos- are actively managed by VanEck, a renowned asset manager with other $140B AUM.
Unlike other legacy stablecoins, Agora’s open partnership model enables exchanges, custodians, dApps, and other ecosystem participants to directly participate in AUSD’s distribution and adoption. It also maintains a transparent attestation process to provide ongoing visibility into AUSD backing, ensuring full accountability and trust. This method as revealed encourage collaborative growth while maintaining rigorous transparency and reserve management standards.
Alchemy Pay partners with Visa and Mastercard
It’s worth noting that this development comes barely two weeks after the payment solution provider partnered with Visa and Mastercard to bring bring Wall Street and crypto to global users. As revealed, the partnership saw to the launch of Alchemy Pay fiat-to-RWA investment platform with xStocks integration on day one.
The partnership also facilitated the purchase of tokenized U.S stocks and ETFs directly with local fiat currency. The platform also provided support to over 60 tokenized equities, which includes Apple, Tesla, Circle, Coinbase, and SPY.
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