Singapore-based fiat-crypto payments firm Alchemy Pay has unveiled an innovative Web3 digital banking platform designed specifically for enterprises.
The Web3 Digital Bank initiative addresses the challenges Web3 firms face in managing cross-border payments and transactions between fiat and cryptocurrencies. Alchemy Pay’s solution offers a compliant, easy, and reliable way to open and operate multi-fiat accounts, streamline cash flows within a single account, and facilitate seamless conversions between fiat and cryptocurrencies.
By integrating its ramp product into the banking offerings, Alchemy Pay enables instant conversions between fiat currencies and cryptocurrencies within a single bank account. Initially, users can transfer EUR and USD balances to stablecoins like USDT and USDC instantly.
Alchemy Pay stated, “In essence, Alchemy Pay has transformed into a true Web3 bank, expanding financial possibilities through its innovative banking system equipped with fiat-crypto conversion ramps.”
This new platform aims to provide a seamless banking experience for enterprises operating in the Web3 space, enhancing their ability to manage complex financial transactions with ease.