In a groundbreaking move to make its native token accessible to global crypto users, Pharos Network, a layer-1 blockchain network, today announced a strategic partnership with Alchemy Pay, a global payment gateway. The collaboration enabled Pharos to integrate its native token (PROS) on Alchemy Pay’s fiat-crypto on-ramp technology to make it more accessible to digital asset users worldwide.
Pharos Network is a layer-1 blockchain designed to power high-speed and scalable tokenized assets and decentralized applications. The network supports EVM compatibility, enabling seamless connection between RWAs and DeFi, powered by its native token PROS.
Pharos Network Launches Token On Alchemy Pay
With the collaboration above, Alchemy Pay integrated Pharos’ token into its fiat-crypto on-ramp solution, unlocking the asset’s accessibility and utility among millions of users on its payment gateway. Launched in 2017, Alchemy Pay is a Singapore-based global payment platform that efficiently connects crypto with traditional fiat currencies for businesses and consumers. The ecosystem consists of users, merchants, and transaction service network partners, with its payment platform instantly converting crypto and fiat at the current exchange rate, thus eliminating volatility concerns.
The integration means Pharos’ token is now available on Alchemy Pay’s on-off ramp solution, enabling users worldwide to directly buy and sell PROS using their preferred local fiat payment methods. Alchemy Pay’s payment gateway supports Mastercard and Visa payments in 173 countries and is connected with major money transfer services such as Google Pay, Apple Pay, domestic bank transfers, and local mobile wallets. Through the above tech incorporation, users from 173 nations can now buy PROS directly using their preferred payment methods, without the need to go through centralized exchanges.
Expanding Crypto Network Adoption
With Pharos Network’s mission to connect traditional financial services with DeFi, its partnership with Alchemy Pay marks another crucial step to actualize this commitment. Through this collaboration, Pharos leverages Alchemy Pay’s fiat on-ramp solution to enhance its token’s accessibility to the larger user base worldwide, further strengthening its network’s adoption and usability.
Pharos Network, which launched its blockchain and token for public utility last month, is on a mission to build an inclusive global settlement layer for RWA and DeFi applications. With Alchemy Pay’s payment gateway infrastructure, customers worldwide can now efficiently convert fiat currencies into PROS tokens, removing a major entry barrier for people unfamiliar with the Pharos Network.
