Alchemy Pay Launches Web3 Digital Bank

Alchemy Pay launched a new product in the form of a Web3-based digital bank. (Photo; Doc. Alchemy Pay Xinwen)

JAKARTA - Alchemy Pay, a blockchain-based payment service platform and infrastructure platform, has just launched its latest innovation: Digital Web3 Bank. This initiative not only marks a step forward in banking evolution, but also opens the door for institutional customers to take advantage of smooth fiat-to-crypto transactions.

With products already accessible in various regions, Alchemy Pay's Digital Web3 Bank serves as a bridge between the traditional financial industry and the fast-growing crypto world. This is a strategic step that allows companies outside the emerging economy to invest directly in digital assets through fiat currencies received as part of their corporate assets.

Cross-Border Payment Innovation Inspired by Ripple's cross-border payment model, Alchemy Pay has developed a solution that addresses major challenges in the international payment industry while introducing innovative solutions. This new product will serve as a bank and online payment platform for businesses around the world, enabling a smooth conversion between fiat and digital assets in one bank account.

Utilizing Alchemy Pay's License and Compliance takes advantage of its licensing and compliance capabilities to allow users in the market set to access this new offering. Companies are set in the United States, Canada, Indonesia, and Lithuania.

Recently, Alchemy Pay obtained a regulatory license from the UK Financial Services Authority (FCA) through its investment in LaPay UK Ltd. In addition, Alchemy Pay won a Hong Kong license through its partnership with Victory Securities, the first corporation to obtain regulatory approval from the Hong Kong Securities and Futures Commission (SFC) to offer digital asset trading services and advisors to customers in the region.

With products that are already accessible in many regions, Bank Digital Web3 will also function as a bridge that connects traditional financial industries with the crypto world. Companies outside of developing economies can use this product to invest directly in digital assets they choose through fiat currencies that are accepted as part of their corporate assets.

At the same time, Alchemy Pay said that this step is part of their dedicated commitment to promoting a more inclusive and fair financial landscape. The company's future plans include seeing their banking products provide additional support to businesses entering the digital asset sector.