As a seasoned researcher with a penchant for blockchain technology and digital payments, I find Alchemy Pay’s latest moves quite intriguing. The launch of their own layer-1 blockchain, Alchemy Chain, powered by Solana Virtual Machine (SVM) architecture, seems to be an ambitious yet promising endeavor.
Alchemy Pay, a company specializing in cryptocurrency payments, revealed plans to debut their own blockchain platform, named Alchemy Chain, to cater to the expanding demands of their business activities.
As an analyst, I’m sharing that Alchemy Pay has unveiled its plans to construct its blockchain utilizing a Solana Virtual Machine (SVM) infrastructure. This move is intended to facilitate seamless interaction between off-chain storage solutions and blockchain-based transactions.
Moreover, the company stated that they aim to create a seamless environment where traditional currencies (fiat) and digital currencies (cryptocurrencies) can exist harmoniously without encountering any obstacles or difficulties.
The business intends to focus on major application uses within companies, and it’s looking to implement layer-2 technologies for seamless account management and real-time data coordination.
Paying gas fees using fiat currency
Moreover, the firm announced that their ACH token will serve as the utility token for its forthcoming layer-1 blockchain. Users can opt to transact gas fees with this cryptocurrency. Yet, it was also stated that users have the choice to pay gas fees using traditional fiat currency. In other words, Alchemy Pay declared.
“Users can conveniently cover gas fees and transactions using either $ACH or fiat, with seamless conversion of profits and other on-chain earnings into fiat currency.”
The company additionally pledged to establish an earnings system for stablecoins. Alchemy Pay mentioned they will offer users the opportunity to generate returns.
The cryptocurrency payment service is expanding its offerings to include meme-based coins, by creating tools specifically designed to assist meme coin projects.
This encompasses a platform for launching memes (a Memepad), enabling users to create and release their meme initiatives. Additionally, it includes a Meme Bot on Telegram, allowing developers to engage with the system directly.
Samsung Pay integrates Alchemy Pay
Starting on October 8th, Alchemy Pay has upgraded its virtual card service by linking with Samsung Pay, a widely-used digital wallet service provided by Samsung Electronics. This update now enables crypto owners to utilize their digital assets for purchases through Samsung Pay.
A representative from Alchemy Pay had earlier shared with CryptoMoon their expectation for increased interest from non-direct users following the integration.
Given that we work with numerous other companies, it means that there will be even more people using our product due to its integration with their systems,” the representative explained.
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2024-10-28 17:01