Alchemy Pay, Binance Partner for Seamless Transactions

Alchemy Pay’s token, ACH, has been integrated into Binance’s payment system, Binance Pay, with the aim of enhancing cryptocurrency utility.

The cryptocurrency exchange Binance has created Binance Pay, a payment system that now supports Alchemy Pay’s native token, ACH. Merchants connected with Binance Pay accept ACH payments with this interface, whether the business is online or offline.

The goal of the integration is to make cryptocurrencies more useful in real-world situations by making them more adaptable to different types of customer needs. Binance Pay’s smart merchants enable customers to use ACH in a variety of ways now that it’s part of the platform. Included in these scenarios are a number of different industries, such as ride-sharing, online shopping, grocery stores, lifestyle, gaming, travel, insurance, and NFT initiatives.

In conjunction with the news, Alchemy Pay launched a marketing push to give out $19,000 in ACH prizes. Users should use the Binance Pay platform to purchase a minimum of $10 worth of cryptocurrencies from any Binance Pay merchant between March 11 and March 31.

Users will be eligible to earn a voucher for 70 ACH tokens after they satisfy this requirement. Furthermore, the user with the highest cumulative spending among the top 20 users who utilize ACH and Binance Pay will receive an additional 5,000 ACH reward. We will give additional ACH incentives based on expenditure.

Binance Pay supports several cryptocurrency payment options, aiming to simplify online transactions. With over $120 billion in total transactions in 2021 and a 71% annual growth rate, Binance Pay anticipates a 70% surge in active users by 2023.

In 2024, Alchemy Pay will introduce their Web3 digital bank service, adding more crypto payment options

With a focus on on-and-off-ramp solutions, NFT checkout, cryptocurrency cards, and cryptocurrency payments, Alchemy Pay has been providing a variety of services to customers in 173 countries since its establishment in 2017. 

In order to pay transaction fees, incentivize network usage, reduce transaction costs, and serve as collateral for business partners during onboarding, Alchemy Pay’s native token, ACH, functions as an ERC-20 incentive utility token deployed on the Ethereum blockchain. Binance and Coinbase are just two of the many well-known cryptocurrency exchanges that list ACH.

As part of its mission to broaden the use of bitcoin for financial transactions, Alchemy Pay will launch a Web3 Digital Bank service in the latter half of 2024. Businesses and individuals will soon be able to open accounts that support several currencies and convert between fiat and cryptocurrency in real time with this upcoming service.