The famous blockchain network named Ontology has announced an exclusive collaboration with Alchemy Pay (a payment solution-providing company). Ontology is focused on offering security privacy, and trust within the Web3 sector via offering solutions related to decentralized data and identity. With the current partnership, Ontology is endeavouring to integrate the payment solution provider’s off and on-ramp solution.
Ontology Integrates the Off and On-Ramp of Alchemy Pay with New Partnership
The platform stated that via the plug of Alchemy Pay, the decentralized applications as well as the platforms operating on Ontology will be permitted to integrate swiftly and matchlessly. This will enable consumers around the world to straightly sell and purchase crypto assets with the use of their favorite methods of fiat payments.
In addition to this, both Ontology Gas (ONG) and Ontology (ONT) coins have been incorporated in the ramp of Alchemy Pay. This allows the customers to straightly purchase them with the use of fiat payments. The respective coins have a vital role in backing the scalability of Ontology’s ecosystem. Along with this, they also facilitate cost-effective, high-volume, and rapid transfers.
Payment Gateway of Alchemy Supports Visa, MasterCard, Google Pay, and Apple Pay
The payment gateway of Alchemy Pay is compatible with MasterCard and Visa payments in up to 173 jurisdictions. Additionally, it also supports Google Pay and Apple along with diverse local transfers. Moreover, it also backs prominent mobile wallets operating within the new markets. The gateway, as a result of this strong compatibility with above 300 domestic payment channels, guarantees increased conversion rates, decreased fees, as well as simple and KYC processes.
This provides convenience in the sale and purchase of crypto assets with local currencies just like the rest of the normal online payment options. The ramp solution provided by Alchemy Pay can be employed across diverse companies such as wallets, NFT marketplaces, centralized exchanges (CEXs), and DeFi protocols. While taking benefit from the comprehensive skills in the case of decentralized data and identity-related solutions, the platform of Ontology is considerably popular.
The consensus mechanism of Ontology guarantees instant transfer confirmation within just 1 second. It can tackle a huge volume of more than 5,000 transfers every second. The mainnet of Ontology ensures excellent consistency and reliability for more than three hundred decentralized applications. The respective dApps are at present backed by the platform’s public blockchain.
