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Alchemy Pay Integrates USDt on TON Network, Broadening Fiat Accessibility

source-logo  blockchainreporter.net 25 April 2024 20:30, UTC

Alchemy Pay, a leading provider of crypto and Web3 fiat payment solutions, has announced its seamless integration of the newly launched USDt on TON stablecoin by Tether onto its payment ramp. This strategic move aims to enhance accessibility and user experience for those transacting with USDt on the TON Network through fiat means, tapping into Telegram’s extensive user base of 900 million individuals.

🙌#AlchemyPay has integrated the newly-launched USDt stablecoin by Tether which expands accessibility to @ton_blockchain’s Web3 Ecosystem in Telegram, the messenger boasting an immense user base of 900 million.

We are proud to enhance the user experience for those looking to… pic.twitter.com/3cg4cyQq3s

— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) April 25, 2024

The Telegram Open Network (TON) is a globally recognized decentralized blockchain community that has been actively building the Web3 ecosystem within Telegram since its inception. Driven by a vision to instill Web3 principles of freedom and openness among Telegram’s vast user base, TON transitioned into an open-source community project in 2020.

TON is committed to achieving robust cross-chain interoperability within a secure and highly scalable framework. Designed to support millions of transactions per second (TPS), TON aims to cater to hundreds of millions of users in the foreseeable future.

Alchemy Pay’s Role in Enhancing TON Ecosystem

Alchemy Pay’s integration of USDt on the TON Network is poised to significantly improve accessibility for users within the TON ecosystem. This collaboration is expected to fortify the network’s overall strength and facilitate the easy onboarding of a large number of global users. Specializing in bridging the gap between crypto and fiat payments for mainstream accessibility, Alchemy Pay boasts unparalleled global coverage across 173 countries.

The platform supports fiat-crypto transactions through a diverse range of payment methods, including Visa, Mastercard, Google Pay, Apple Pay, regional mobile wallets, and domestic transfers. With over 300 fiat payment channels, Alchemy Pay’s ramps extend beyond card payments to access local mobile wallets as well.

The success of Alchemy Pay can be attributed to its team’s extensive background in traditional finance and fintech payments. Leveraging their years of experience in the crypto industry, Alchemy Pay has forged strong partnerships with prominent blockchain platforms and services such as Polygon, ICP, Avalanche, Algorand, Arbitrum, Binance Pay, Trust Wallet, and OKX.

Recognized for its credibility in the traditional payment sector, Alchemy Pay has been enlisted by both Visa and Mastercard as an authorized third-party service provider. Additionally, its impressive range of licensing achievements across countries and regions including the UK, the United States, Canada, Indonesia, and Lithuania further solidifies its leading position in the crypto payment landscape.

With its ambitious vision, TON aims to empower 500 million users to own their digital identity, data, and assets by 2028. The integration of USDt by Alchemy Pay marks a significant step towards achieving this goal, as it enhances the network’s capability to offer seamless fiat transactions to its growing user base. Alchemy Pay’s support for USDt on the TON Network represents a pivotal moment in the evolution of both platforms, promising increased accessibility, user engagement, and growth within the global crypto and Web3 ecosystems.