Alchemy Pay is a Singapore-based payment solutions provider founded in 2018 by Shawn Shi and Molly Zheng. The company aims to seamlessly integrate traditional fiat and cryptocurrency economies, enabling businesses and consumers to conduct transactions using both forms of currency. By offering a hybrid payment system, Alchemy Pay facilitates the acceptance of crypto and fiat payments through its comprehensive network of payment channels and partners.

Tokenomics

The native utility token of Alchemy Pay is ACH, an ERC-20 token on the Ethereum blockchain. The total supply of ACH is capped at 10 billion tokens, distributed as follows:

  • Team: 18%
  • Private Placement/IEO: 18%
  • Ecosystem Incentives: 5%
  • Consulting Fees: 2%
  • Network Mobility: 6%
  • Mining (Payment): 40%
  • Mining (Fin-Eco): 11%

ACH tokens are utilized for transaction fees, network access, and participation in governance decisions within the Alchemy Pay ecosystem.

Underlying Technology

Alchemy Pay operates on the Ethereum blockchain, leveraging smart contracts to facilitate secure and efficient transactions. The platform integrates decentralized applications (dApps) and employs a decentralized network protocol to enhance operational efficiency and reduce costs. Additionally, Alchemy Pay utilizes the Lightning Network to support real-time crypto payments, ensuring quick and reliable transactions.

Supported Networks

Alchemy Pay's infrastructure is built on the Ethereum network, utilizing its robust smart contract capabilities. The platform also supports various blockchain networks through partnerships, enabling a wide range of cryptocurrencies to be used within its payment system. This multi-network support ensures flexibility and broad accessibility for users and merchants.

Market Status of ACH Token

As of December 2024, the ACH token is trading at approximately $0.024, with a market capitalization around $197 million. The token has experienced significant volatility, reaching an all-time high of $0.1987 and an all-time low of $0.001355. The circulating supply is reported to be around 4.94 billion tokens.

Investors

In April 2023, Alchemy Pay secured $10 million in funding from DWF Labs, a multi-stage web3 investment firm, at a valuation of $400 million. This strategic partnership aims to facilitate Alchemy Pay's expansion into new markets and enhance its payment solutions.

Development Status

Alchemy Pay has made significant strides in expanding its services globally. The company supports payments from 173 countries, utilizing various methods such as Visa, Mastercard, regional mobile wallets, and domestic transfers, with a focus on emerging markets. Additionally, Alchemy Pay has obtained licenses in multiple jurisdictions, including Indonesia, to operate remittances and fund transfers.

Technological Innovation and Potential

Alchemy Pay's hybrid payment system represents a significant innovation in bridging fiat and crypto economies. By providing seamless integration and support for various payment methods, the platform enhances the accessibility and adoption of cryptocurrencies in everyday transactions. Its strategic partnerships and global reach position Alchemy Pay as a key player in the evolving digital payment landscape.

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