Alchemy Pay is a leading payment solutions provider that bridges the gap between traditional fiat currencies and digital assets. Designed for both individuals and enterprises, Alchemy Pay enables seamless, secure, and cost-effective transactions across the crypto and fiat economies. Whether you're an e-commerce merchant, a blockchain developer, or a crypto enthusiast, understanding how Alchemy Pay works—and how it can benefit you—is essential in today’s evolving digital finance landscape.
This comprehensive guide dives into the most frequently asked questions about Alchemy Pay, covering its core technology, supported cryptocurrencies, token utility, partnerships, and real-world applications.
How Does Alchemy Pay Work?
At its core, Alchemy Pay operates as an all-in-one payment network that allows merchants and users to transact using either fiat money (like USD, EUR) or cryptocurrencies (like Bitcoin, Ethereum). What sets it apart is its ability to let businesses accept crypto payments while receiving settlements in stable local currency—eliminating exposure to crypto price volatility.
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The system leverages stablecoin technology and a vast network of financial integrations—including OTC desks, global crypto exchanges, remittance providers, and banking partners—to ensure fast, reliable conversions. This dual-payment capability works both online and in physical stores via QR codes, point-of-sale systems, and digital wallets.
For end users, Alchemy Pay provides fiat-to-crypto on-ramps, enabling direct purchases of digital assets using mainstream payment methods such as:
- Credit and debit cards
- Mobile wallets
- Bank transfers
This lowers the entry barrier for new users entering the Web3 ecosystem, making it easier than ever to invest in crypto or engage with decentralized applications (dApps), NFT marketplaces, and metaverse platforms.
What Blockchain Is Alchemy Pay Built On?
Alchemy Pay’s native utility token, ACH, is primarily an ERC-20 token issued on the Ethereum blockchain. To enhance scalability and reduce transaction costs, ACH is also available as a BEP-20 token on the Binance Smart Chain (BSC).
Users can seamlessly move their ACH tokens between these two blockchains through cross-chain swaps. Detailed instructions for performing these transfers are available in official documentation hosted on Alchemy Pay’s Medium channel.
It's important to note that while ACH operates across multiple chains, Alchemy Pay itself is not a blockchain—it’s a payment infrastructure layer that connects existing financial systems with blockchain ecosystems.
What Is the ACH Token Used For?
The ACH token plays a crucial role in incentivizing network participation and ensuring smooth operations within the Alchemy Pay ecosystem. It serves three primary functions:
1. Transaction Fees (Gas Fees)
Users and partners can choose to pay transaction, processing, or investment fees in ACH. Opting for ACH often comes with fee discounts, depending on usage volume and agreement terms.
2. Rewards Program
Active participants—including merchants, financial institutions, e-commerce platforms, and developers—earn ACH rewards based on their transaction volume and network contribution. These incentives encourage broader adoption and integration.
3. Pledging Mechanism
To join the network, merchant partners are required to purchase and pledge a certain amount of ACH tokens. These tokens remain locked during their participation but can be reclaimed if they exit the network. This mechanism aligns long-term interests and ensures commitment.
With a maximum supply capped at 10 billion tokens, ACH is not mineable. All tokens were pre-mined and are released gradually through smart contracts to support ecosystem growth.
Is Alchemy Pay Connected to Alchemy?
No—Alchemy Pay is not affiliated with Alchemy, the blockchain development platform known for its API services for Ethereum and other networks. Despite the similar names, they are entirely separate entities with different missions.
Alchemy Pay was founded in Singapore in 2018 by Shawn Shi and Molly Zheng, both seasoned professionals with extensive backgrounds in traditional finance and payment technologies from companies like HSBC, PayPal, QFPay, and Mastercard. Their vision was to create a frictionless bridge between fiat and crypto economies—a goal that continues to drive the company forward.
Who Is the CEO of Alchemy Pay?
The current CEO of Alchemy Pay is John Tan, a seasoned business growth strategist with deep expertise in scaling professional services and tech-driven organizations. Prior to joining Alchemy Pay, John consulted for Fortune 500 companies such as Honeywell, RSA, and DBS Bank, bringing valuable insights into enterprise adoption and global market expansion.
Under his leadership, Alchemy Pay has strengthened its global footprint and forged high-impact partnerships across finance and blockchain sectors.
Which Cryptocurrencies Does Alchemy Pay Support?
Alchemy Pay supports a growing list of major cryptocurrencies, enabling flexible payment options for users and merchants alike. Supported digital assets include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Tether (USDT)
- USD Coin (USDC)
- DAI
- Binance USD (BUSD)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Algorand (ALGO)
- NEAR Protocol (NEAR)
- Avalanche (AVAX)
- Polygon (MATIC)
- Tron (TRX)
- Gemini Dollar (GUSD)
- Elrond (EGLD)
- And of course, ACH
This wide range ensures compatibility with leading blockchains and stablecoins, enhancing usability across decentralized finance (DeFi), NFTs, gaming, and e-commerce platforms.
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What Are Alchemy Pay’s Key Partnerships?
Strategic collaborations are central to Alchemy Pay’s global reach. The platform has established integrations with some of the biggest names in crypto and fintech:
- Binance – World’s largest cryptocurrency exchange
- Shopify – Leading e-commerce platform enabling thousands of merchants to accept crypto
- NIUM – Global payments network powering cross-border remittances
- QFPay – Major Asian payment service provider
- Checkout.com – Global digital payments processor
- Arcadier – Marketplace-as-a-service platform
- Cobo Wallet – Institutional-grade crypto custody solution
- Huobi Global – Established crypto exchange
- Algorand, Polygon, NEAR, Elrond, Avalanche, VeChain – Leading Layer 1 and Layer 2 blockchain networks
These partnerships allow Alchemy Pay to operate in over 70 countries, support 300+ payment channels, and serve a network of more than 2 million merchants worldwide.
Frequently Asked Questions (FAQ)
Q: Can I mine ACH tokens?
No. The total supply of 10 billion ACH tokens was pre-mined at launch. No additional tokens can be mined. Distribution occurs via smart contracts based on ecosystem incentives.
Q: Where can I buy ACH tokens?
ACH is listed on major exchanges including Coinbase, Binance, Huobi Global, MEXC, Bybit, Uniswap, Sushiswap, and many others.
Q: Does Alchemy Pay have a white paper?
Yes. The official Alchemy Pay White Paper is available for download and outlines the technical framework, tokenomics, and long-term roadmap.
Q: Is Alchemy Pay safe to use?
Yes. The platform employs advanced encryption, compliance protocols, and partner vetting procedures to ensure secure transactions for both consumers and businesses.
Q: Can I use Alchemy Pay for in-store purchases?
Absolutely. Merchants can use QR codes or POS terminals to accept payments in-store using supported cryptocurrencies or fiat via mobile wallets.
Q: How does Alchemy Pay handle price volatility?
By converting incoming crypto payments into stable fiat currency instantly, merchants avoid exposure to market fluctuations—a key advantage over direct crypto settlements.
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Alchemy Pay continues to expand its influence in the global digital economy by making cryptocurrency spending practical, accessible, and mainstream-friendly. With strong institutional backing, real-world utility, and a growing list of integrations, it stands as one of the most impactful fiat-to-crypto bridges today.