The premier Ethereum layer-2 network, Arbitrum, has collaborated with Alchemy Pay to facilitate straightforward onramps for fiat currency into the Arbitrum ecosystem. Developers working on Arbitrum can now take advantage of a direct-to-customer plugin made available by Alchemy Pay.
The plugin may be readily implemented, and it gives people all around the world the ability to acquire cryptocurrency directly using the methods that are most convenient for them in terms of their local fiat currencies. Arbitrum One is a layer-2 solution that addresses the scalability issues faced by Ethereum through the utilization of a multi-round interactive Optimistic Rollup.
Offchain Labs is the team behind the development of the industry-leading Ethereum Layer-2 scaling solution Arbitrum One. An optimistic rollup, Arbitrum One offers transactions that are both incredibly quick and inexpensive, along with security that is taken from Ethereum. The beta version of the Arbitrum One mainnet was released in August 2021.
It is EVM-compatible up to the level of the bytecode and it has a TVL of 50% or more in the L2 section. There are already more than 400 active decentralized finance (DeFi) and NFT projects in the ecosystem. Arbitrum One switched to the Nitro tech stack in August 2022, which enabled fraud proofs over the basic engine of Geth compiled to WASM.
Robust Plugin For Seamless Onboarding Of Users
Layer 2 protocols were developed by developers to handle transactions off layer 1 in order to improve Ethereum’s performance and user experience. This was done since the Ethereum Mainnet (layer 1) has a limited capacity for the number of transactions it can process at one time.
In addition to the launch of Arbitrum One, Offchain Labs also introduced the layer 2 network known as Arbitrum Nova, which is powered by AnyTrust technology. Thanks to this most recent partnership, the Alchemy Pay Ramp Solution is now available to be accessed at https://portal.arbitrum.one/.
On Arbitrum, decentralized applications (dApps) and platforms will have the ability to rapidly deploy with a minimum of expense and hassle. Alchemy Pay was initially recognized for its crypto payment solutions. However, the company is now in a position to provide this D2C plugin to dApps and platforms of all sizes.
It is an extremely robust plugin that can be easily customized, and it allows for easy onboarding of users right on the site. In addition to facilitating onramps to cryptocurrency, the Alchemy Pay NFT Checkout makes it possible for customers to purchase NFTs directly by making payments in their native fiat currency.
Users are only charged the precise amount that they need to spend in order to purchase the NFT that they want thanks to the Checkout feature, which ensures that customers never overpay. Thanks to this recent advancement in payment methods, purchasing NFTs is now both speedy and very accessible to the public.
Global And Regional Payments Made Easy
The Alchemy Pay Ramp Solution is able to process payments made by customers using Mastercard and Visa from customers located in 173 different countries. Additionally, it is an industry leader in the acceptance of popular regional payment systems and e-wallets found in Europe, Southeast Asia, and Latin America.
Systems such as SEPA (Europe), Pix (Brazil), GCash (Philippines), MoMo (Vietnam), SPEI (Mexico), Union Pay (Japan), and many others, in addition to well-known global ways, are increasingly being adopted around the world. There are certain regions of the world in which APMs (Alternative Payment Methods) like bank transfers have become extremely commonplace.
Alchemy Pay is a payment gateway that was established in Singapore in 2018. It combines cryptocurrencies and worldwide fiat currencies in a smooth manner for the benefit of businesses, developers, and users. The Alchemy Pay Ramp Solution is linked to platforms and dApps in the form of a plugin or an API, making the transition from fiat currency to cryptocurrency simple.
Payments can be made through Alchemy Pay from 173 different countries using Visa, Mastercard, popular regional mobile wallets, and local transfers, with a particular emphasis on developing market countries. Users can receive their funds in one of 27 different local fiat currencies thanks to its offramping feature. ACH is the Alchemy Pay network cryptocurrency that may be accessed on the Ethereum blockchain and the Binance Chain.