AlchemyPay expands web3 digital bank to Australia

Alchemy Pay has announced a strategic roadmap for the final quarter of 2024, highlighting plans to expand its Web3 Digital Bank in Australia, enhance global payment accessibility, and introduce its proprietary Layer 1 blockchain, Alchemy Chain. Building on its experience since 2017, the Singapore-based crypto payment gateway is focused on regulatory compliance, fiat integration, and innovative solutions to support businesses and individuals worldwide.

• Licensing and Compliance: Pursuing multiple global licenses, including remittance provider registration in Australia.
• Web3 Digital Bank Expansion: Launching remittance services and foreign exchange options for users in Australia.
• Alchemy Chain Introduction: Developing a Layer 1 blockchain tailored for crypto payments.

Expanding Regulatory Footprint and Web3 Banking in Australia

To solidify its compliant operations, Alchemy Pay is actively seeking licenses in numerous jurisdictions, including Australia, the U.S., and Dubai. By registering as a Remittance Service Provider in Australia, Alchemy Pay aims to offer a range of services, including international money transfers, foreign exchange, and remittance network management. These services cater to individuals, businesses, and communities with diverse financial needs.

The expanded Web3 Digital Bank will support various payment options, such as bank transfers, mobile payments, and e-wallets, allowing for seamless cross-border transactions. This platform will empower users with efficient multi-currency management, especially beneficial for Australian immigrants, students, and businesses needing international financial services.

Broader Fiat Accessibility and SoftPoS Technology

Alchemy Pay’s expansion plans include increasing fiat payment channels in South Korea and Australia. With South Korea’s growing crypto adoption, Alchemy Pay is integrating local payment options to improve accessibility. Additionally, the team is exploring partnerships with online banks like N26 and Revolut to strengthen its global fiat network.

The SoftPoS (Software Point-of-Sale) solution will soon be available to small and medium-sized enterprises, enabling crypto payments without the need for additional hardware. This feature allows businesses to accept credit card or QR code payments via mobile devices, reducing costs and improving access to digital payment options.

Introducing Alchemy Chain: A Dedicated Blockchain for Payments

Alchemy Pay’s roadmap includes the launch of Alchemy Chain, a Layer 1 blockchain tailored specifically for payment solutions. Designed to be scalable and reliable, Alchemy Chain aims to provide the infrastructure needed to support a range of applications, including business transactions and decentralized finance.