As part of its efforts in providing a seamless payment gateway in the crypto space, Alchemy Pay has partnered with Pendulum. According to a blog post announcement, the collaboration will see the payment giant provide a user-friendly fiat on-ramp for the native token of Pendulum; PEN. As disclosed, the partnership will support users to carry out fiat-crypto transactions while ensuring compliance and ease of use.
More so, Alchemy Pay through the partnership will help complement Pendulum’s effort to connect the traditional fiat and decentralized Finance ecosystems. Additionally, Pendulum according to the announcement leverages smart contract blockchain technology to connect the two worlds of finance. Also, the collaboration will help ensure wider and seamless accessibility to PEN while onboarding more users across the globe.
Meanwhile, the collaboration will see Pendulum enjoy Alchemy Pay’s extensive global presence in 173 countries. The finance giant’s acceptance of various payment methods will see investors acquire PEN more conveniently. With the support of Alchemy Pay, Pendulum will further focus on user-friendliness, transparency, and security within its network. Further, the network will gain more boost in its pursuit of revolutionizing the financial industry and promoting financial inclusion and equality.
The collaboration between Alchemy Pay and Pendulum highlights their efforts in combining blockchain with traditional finance to design game-changing solutions. However, Alchemy Pay on various occasions has rolled-out numerous projects to assist users in making crypto payments. Consequently, the payment giant in the crypto sphere has established itself as a force to reckon with. It is worth mentioning that Pendulum is based on the Polkadot Substrate. The network allows traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, and lending protocols.
Alchemy Pay virtual crypto card and efforts to encourage crypto payment
The collaboration with Pendulum came on the heels of the launching of an initiative that encourages crypto payment. Per a Binbits report, on June 29, 2023, Alchemy Pay launched a crypto virtual card to allow users to spend their cryptocurrency conveniently. According to the report, the initiative can be likened to a regular virtual payment card, only that the one from Alchemy Pay supports cryptocurrency payment. Therefore, to use it, users must connect the virtual card to their crypto wallet.
Similarly, in April 2023, Alchemy Pay extended its services to India. According to report, the payment firm added support for India’s UPI domestic transfer payments in a bid to allow users to make payments with cryptocurrency in the country. The numerous collaboration of the firm with various projects in the crypto space emphasized its commitment to the push for the usage of cryptocurrency as a means of payment.