Fiat crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially recognized by Forbes with the Web3 Innovation Pioneer price on January 11. The Singapore-based payment solutions provider has a large research and development center Asia which is pioneering new payment systems at the edge of the modern fintech – convenient payments that enable seamless money movement between traditional fiat currency and cryptocurrency.
After its founding in 2018, Alchemy Pay became the number one crypto payment system in the world South East Asia. In 2022, Alchemy Pay switched to d2c solutions for the first time. Are entry and exit and NFT checkout were all launched in the third and fourth quarters of last year. The constant upgrades and innovations since the initial launch have created a full range of offerings that satisfy newcomers and surprise crypto natives. The platform services (plugin or API) are integrated by platforms across the Web3 space, from large-scale exchanges to small, specialized token issuers and dApps.
The Forbes award recognizes the company’s groundbreaking achievements in the fintech/crypto space. Forbes selected entrepreneurs, investors, contributors to open source projects and crypto ecosystems who made significant contributions to the development of Web3, saying that they “aimed to find cases of value creation by innovative companies in the field of Web 3.0 , and show how the current Web 3.0 wave is shaping a higher level of autonomy.”
Shawn Shi commented: “It’s great to receive industry recognition for our work in payments. The possibilities are wide open and our team is always pushing the boundaries. We have proven time and time again that any payment scenario with any customization is possible. I am very proud of our team and 2023 will continue to expand our vision.”
Alchemy Pay ended the year by integrating with Arbitrum, the world’s largest Ethereum scaling layer-2, going live with Apple Pay and becoming an official service provider of Visa. The success is due to the team’s significant working knowledge of both existing financial and blockchain technology. At the base of the ramp is a network of payment processors, acquirers, exchanges, dApp developers and blockchains. This has been no small task; the team has a wealth of talent with expertise and has also managed to avoid any direct contamination from the recent fallout and scandals of the crypto market.
Alchemy Pay supports Mastercard and Visa in 173 countries, as well as large-scale banking systems such as SEPA Europe. However, where the team has been at the forefront of invention is in its unparalleled coverage in emerging markets such as SEA and Latin America. Locally-based mobile wallets have become a big part of the payments market in these emerging markets and Alchemy Pay allows users to buy and sell cryptocurrencies with them. The result is that crypto platforms and services are gaining access to previously unreachable markets around the world.
Shawn Shi outlined his thoughts for the coming year: “By 2023, we will be unstoppable. This year will see the launch of our app, which will be a one-stop shop for users who want to feel the full power and scope of what Web3 and crypto have to offer. We build for the long term.”