Fiat crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially licensed by Forbes with the Web3 innovation pioneer price on January 11. The Singapore-based payment solutions provider has a major research and development center Asia that pioneered new payment systems on the edge of modern fintech – convenient payments that enable seamless money movement between traditional fiat currency and cryptocurrency.
After its inception in 2018, Alchemy Pay became the number one crypto payment system in the world South East Asia. In 2022, Alchemy Pay switched to d2c solutions for the first time. Are entry and exit and NFT checkout were all launched in Q3 and Q4 last year. The constant upgrades and innovations since the initial launch have resulted in a full range of offerings that satisfy newbies and delight crypto natives. The ramp services (plug-in or API) have been integrated by platforms across the Web3 space, from large-scale exchanges to small, specialized token issuers and dApps.
The Forbes award recognizes the company’s pioneering achievements in the fintech/crypto space. Forbes selected entrepreneurs, investors, contributors to open source projects and crypto ecosystems who made significant contributions to the development of Web3. the current Web 3.0 wave is shaping a higher level of autonomy.”
Shawnshi commented: “It’s great to be recognized by the industry for our work on payments. The possibilities are wide open and our team is always pushing the boundaries. We have proven time and time again that any payment scenario is possible with any customization. I am very proud of our team and 2023 will continue to expand our vision.”
Alchemy Pay closed out the year by integrating with Arbitrum, the world’s largest Ethereum scaling layer-2, going live with Apple Pay and becoming an official service provider by Visa. Its success stems from the team’s considerable knowledge of both legacy finance and blockchain technology. At the root of the disaster is a network of payment processors, acquirers, exchanges, dApp developers and blockchains. This has been no small task; the team has a wealth of talent with expertise and it has also managed to avoid any direct contagion from the crypto market’s recent fallout and scandals.
Alchemy Pay supports Mastercard and Visa in 173 countries, as well as large-scale banking systems such as SEPA in Europe. However, where the team leads the way in invention is its unparalleled coverage in emerging markets such as SEA and Latin America. Locally based mobile wallets have become a big part of the payments market in these emerging markets and Alchemy Pay allows users to buy and sell crypto by using them. As a result, crypto platforms and services have access to hitherto unreachable markets around the world.
Shawnshi his thoughts for the coming year: “In 2023 we will be unstoppable. This year launches our app which will be a one stop shop for users who want to feel the full power and scope of what Web3 and crypto has to offer. We build for the long term.”