chaintimes.com
Crypto exchange Binance announced a partnership with crypto-fiat hybrid payment platform Alchemy Pay to enable peer-to-peer (P2P) crypto payments at over 2 million global merchants through its payments application Binance Pay. Binance is continuing to expand into the crypto payments industry, now with a new crypto-to-fiat integration. Binance, in recent times, has faced severe regulatory scrutiny across different countries.
Binance Pay users will be able to pay across merchants of Alchemy Pay’s partners.
Binance Pay users will be able to pay across merchants of Alchemy Pay’s partners, including e-commerce giant Shopify, software technology company Arcadier, mobile payment provider QFPay, and others. According to the company’s website, Alchemy Pay operates a global crypto-fiat payment gateway through 300 fiat and crypto payment channels in 65 countries. The company’s merchant networks also include Hong Kong’s biggest furnishing company Pricerite, Singapore’s Cé La Vi, Canadian footwear brand Aldo, and Midwest Global Asia taxi services. Alchemy Pay also has its native coin, Alchemy Pay (ACH), an Ethereum-based token that incentivizes the ecosystem and access to the network’s consumption and governance.
Malaysian financial regulator issued a public reprimand against Binance Holdings.
As reported earlier, the Malaysian financial regulator issued a public reprimand against Binance Holdings Limited, its CEO Zhao Changpeng and three other entities registered in the United Kingdom, Lithuania, and Singapore, for continuing to operate in Malaysia despite being added to the regulator’s investor alert list a year ago. Binance has been facing regulatory scrutiny from regulators across countries for a few months. Binance had earlier announced that it would wind down its futures and derivatives product offerings across Europe as the platform faces growing pressure from regulators worldwide.