A strategic alliance has been established between IoTeX, a blockchain platform known for its scalability, security, and speed, and Alchemy Pay, a payment services platform that focuses on Web3. IoTeX is set to integrate Alchemy Pay’s payment solution for on- and off-ramp transactions into its ecosystem as part of its collaboration.
The plan of IoTeX is to incorporate Alchemy Pay’s module into its platform, which will allow developers and dApps to smoothly integrate the payment provider’s on- and off-ramp functionality. This feature facilitates the ability of international customers to buy and exchange cryptocurrencies through their favored payment modes and domestic legal tenders. The collaboration entails the provision of a platform for consumers to purchase IOTX, which is the native currency of IoTeX, using fiat currency directly on the Alchemy Pay landing page.
The partnership between Alchemy Pay was announced through a blog post on Medium. The post indicated that the company’s ability to integrate with payment platforms, including MasterCard and Visa, spans nearly 173 countries. Furthermore, it has been revealed that both Apple Pay and Google Pay are compatible. Furthermore, it facilitates regional transactions alongside mobile wallets that function within specific markets.
As per Alchemy Pay, their payment platform offers a payment experience that is easy to use for users. The statement further elucidated that the platform provides an extensive array of over 300 local payment channels to augment convenience. Furthermore, the partnership between Alchemy Pay and the remittance partners facilitates an unparalleled conversion process between cryptocurrency and traditional fiat currency.
This enables the transfer of funds to bank accounts using over fifty different fiat currencies. The IoTeX platform is widely recognized for its flexibility in providing Web3 infrastructure. This technology facilitates the integration of blockchains with tangible data and smart devices. The company’s vision is centered on enabling individuals to take ownership of their devices, identity, and data within the realm of connectivity.
By leveraging blockchain technology, IoTeX showcases the capabilities of data and smart devices. Moreover, this will enable the development of digital assets and decentralized applications (dApps). The organization incorporates actual data with blockchain technology to empower customers to create digital assets that are based on their real-life actions and data.
