Singapore-based fintech company, Alchemy Pay, is making significant strides in improving cryptocurrency adoption in Europe. The firm has recently integrated several European local payment channels into its platform, offering customers in the region a more convenient and accessible way to purchase cryptocurrencies. With this expansion, users in Europe can now make crypto transactions using popular local payment methods such as Bancontact, iDeal, and BLIK, in addition to globally accessible options like Skrill and Neteller.
The move comes as part of Alchemy Pay’s commitment to enhancing the user experience and increasing crypto adoption worldwide. By providing a broader range of payment options, customers in Europe can choose the method that best suits their needs and preferences. Furthermore, integrating local payment channels leads to higher success rates and reduced transaction fees, resulting in overall lower payment costs.
Paving the Way for Widespread Crypto Adoption
One of the key aspects of this expansion is the support for transactions in Euros. As the European Union continues its vision of a unified digital market, Alchemy Pay’s integration of European local payment channels aligns with the region’s diverse needs and preferences. Skrill and Neteller, both based in the United Kingdom, are well-established global payment providers with millions of users worldwide.
Meanwhile, in Belgium, Bancontact enjoys wide acceptance due to its partnerships with major banks like KBC, Belfius Bank, and Fortis Bank. In the Netherlands, iDEAL has gained popularity as a preferred payment method, allowing customers to conduct online transactions through their bank credentials. For Poland, BLIK serves as the leading mobile payment method, integrated into major banking applications and widely used for online transactions.
Since its founding in 2017, Alchemy Pay has remained focused on providing crypto on and off-ramp solutions, positioning itself as a frontrunner in emerging markets. The company’s strong presence in Latin America and Southeast Asia has been boosted by acquiring compliance licenses in various countries, including the United States, Canada, Indonesia, and Lithuania. Notably, Alchemy Pay has gained recognition from payment giants Visa and Mastercard and is listed as an authorized payment service provider.
With this latest expansion, Alchemy Pay is widening its payment network across Europe, moving beyond the emerging markets it has already conquered. With over 300 fiat payment channels in 173 countries, the company is dedicated to simplifying the onboarding experience and promoting widespread cryptocurrency acceptance. By fostering greater connectivity between everyday users and the thriving crypto industry, Alchemy Pay aims to play a significant role in the ongoing global adoption of digital currencies.
The integration of European local payment channels is expected to accelerate the adoption of cryptocurrencies in the region and bolster Alchemy Pay’s reputation as a leading provider of crypto payment solutions. As the crypto market continues to evolve, Alchemy Pay’s commitment to offering diverse and user-friendly payment options will likely attract more users, further contributing to the mainstream acceptance of digital currencies.
