Trust Wallet and Alchemy Pay Partner for Seamless Crypto Ramp Solutions

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Nov 29, 2023, 21:34 ET

SINGAPORE, Nov. 29, 2023 /PRNewswire/ -- Alchemy Pay, the leading fiat-crypto payment solution provider, has announced a new partnership with Trust Wallet, the leading self-custody and mutichain wallet with over 70 million users, enabling users to easily buy and sell crypto with multiple fiat payments within Trust Wallet directly.

The integration allows users to have more on and off-ramps solutions, which accelerate web3 adoption by lowering the entry barrier for retail users. Trust Wallet users now are able to easily convert between crypto and fiat by using various international and local payment methods, with more than 30 fiat currencies and 10 million cryptocurrencies across over 100 blockchains supported.

"Alchemy Pay takes great pride in our partnership with Trust Wallet, one of the leading crypto wallets, to provide comprehensive on and off-ramp support to a global user community. Our unwavering commitment is to facilitate a smooth, compliant, and secure user onboarding process on fiat on-ramp and crypto off-ramp." said Robert McCracken, the Ecosystem Lead at Alchemy Pay.

Trust Wallet Product Lead Nate Zou stated: "We're excited to offer more fiat solutions for our users by working with Alchemy Pay, making crypto more accessible than ever. This opens up new buying options for our global user base and introduces lower fees and more convenient payment methods while maintaining full ownership of their assets."

Alchemy Pay specializes in providing solutions that enable cryptocurrency and Web3 services to access fiat payment options, thus enhancing their accessibility for a broader audience. Leveraging its extensive network of global acquirers and remittance enterprises, Alchemy Pay currently supports an impressive coverage of more than 300 fiat payment channels spanning across 173 countries.

Alchemy Pay's primary focus and advantageous areas lie in emerging markets such as Southeast Asia and Latin America. Notably, it has successfully integrated with widely-used local e-wallets like GCash (with 60 million users) and Maya (50 million users) in the Philippines, OVO (92 million users) and Dana (115 million users) in Indonesia, Pix in Brazil (116 million users), and others.

In its pursuit of broadening its service portfolio, enhancing transaction success rates, and optimizing operational efficiency, Alchemy Pay actively pursues licenses in various countries and regions including the United States, Canada, Indonesia, and Lithuania. Over the past three months, Alchemy Pay has been on a winning streak by securing Money Transmitter Licenses in both Arkansas and Iowa to prove its ability. Additionally, it has forthcoming plans to achieve regulatory compliance in Hong Kong, the UK, and the US. Currently, Alchemy Pay is also the official payment service provider for Visa and Mastercard, ensuring secure and compliant processes for both onramping and offramping transactions.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off-Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries.

The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on the Ethereum blockchain.

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About Trust Wallet

Trust Wallet is the simple-to-use, self-custody crypto wallet and gateway to Web3 for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it simpler, safer, and convenient for millions of people around the world to experience Web3, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, and access dApps securely—all in one place. With features such as the Trust Wallet Security Scanner, and support for 10+ million digital assets across 100+ blockchains, Trust Wallet is a true multi-chain crypto wallet that allows users to access the Web3 world safely, and without limits.

SOURCE Alchemy Pay