Exchange Alchemy Pay

Alchemy token (ACH) is an official token on the Alchemy Pay network — a project aiming to bridge the traditional fiat and cryptocurrency payments, providing a wide variety of payment options for customers and keeping it easy for merchants to accept those transactions. Alchemy Pay was founded in Singapore in 2018.

Traditional electronic payment systems, while convenient, have some shortcomings. For example, it’s expensive to send money across borders, and for unbanked residents, it’s nearly impossible. The existing system is not always convenient for large companies, too, as they have to manage payments for each regional branch according to its own set of rules. Blockchain technology and the associated cryptocurrency usage may solve those problems, but they are not adopted widely enough, especially by merchants. So, Alchemy Pay was developed to serve as a gateway between those two means of payment. It can be embedded into apps, POS (point-of-sale) terminals, web forms, etc., and works with a wide variety of currencies, so the customer can choose the most convenient way to pay, crypto or fiat, and the merchant will receive it as local currency.

ACH tokens are issued to incentivize Alchemy Pay’s users: both customers and merchants receive a percentage of the transaction as a cashback deposited in ACH. The project’s team is planning continuous development of profitable and robust tokenomics for its users.