SINGAPORE, April 3, 2023 — Alchemy Pay has established a strategic agreement with DWF Labs, the renowned multi-stage web3 investment company, to help with its entry into the Korean market. As a result of this collaboration, Alchemy Pay has obtained USD 10 million in investment from DWF Labs. This money will be used to grow its payment company in Korea, take advantage of the area’s high degree of bitcoin adoption, and help Korean businesses become more globally competitive. Alchemy Pay was reportedly valued at USD 400 million during the fundraising round.
Alchemy Pay has put in a lot of work over the years to broaden its worldwide reach and forge alliances with international and regional payment channels to enhance its services. Visa, Mastercard, Discover, and Diners Club are among its partnerships, as are regional mobile wallets, domestic transfer possibilities, and mobile payment systems like Apple Pay and Google Pay. The company’s reach goes beyond conventional credit cards and restricted mobile wallet possibilities, boasting over 300 local alternative payment channels. Alchemy Pay has created a broad service area, including Europe, Northern and Central America, and Southeast Asia, with a particular emphasis on facilitating access to emerging markets.
Alchemy Pay has added its cutting-edge NFT Checkout solution and its payment services. With the help of this product, clients may purchase NFTs using fiat payment methods, which makes the procedure as simple as making any other regular online payment. Users may buy NFTs using this capability using their currencies.
According to Robert McCracken, ecosystem lead for Alchemy Pay, Korea presents a promising market for Alchemy Pay. “The company is currently well-funded. We accepted the investment for strategic purposes, specifically to aid Alchemy Pay in entering the Korean market and expanding its payment services in the region. “Alchemy Pay has not yet established a significant presence in Korea, a country with a sizable market, but we aspire to do so. By employing our payment options, more Korean businesses may bridge the gap between cryptocurrencies and traditional fiat currencies and stay up with global markets.”
DWF Laboratories’ managing partner, Andrei Grachev, stated, “As Alchemy Pay pursues its worldwide development strategy, particularly in the Korean market, we are thrilled to work with them. Their dedication to bridging the gap between cryptocurrencies and conventional finance and their creative payment solutions align with our goal of creating a fully integrated digital economy. We think this strategic alliance will hasten Alchemy Pay’s expansion in Korea and expand the range of ways businesses and consumers may profit from digital assets and web3 technology.”
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