Singapore-based fiat-crypto payments firm Alchemy Pay has unveiled a Web3 digital banking platform for enterprises.
The Web3 Digital Bank initiative aims to address the challenges faced by Web3 companies in managing cross-border payments and transactions involving both fiat and cryptocurrencies.
Alchemy Pay offers a compliant, user-friendly, and reliable method for opening and operating multi-fiat accounts, facilitating streamlined cash flows within a single account, and enabling seamless conversions between fiat and crypto.
By integrating its ramp product into its banking services, the firm allows for easy conversions between fiat and cryptocurrencies within a single bank account. Initially, account holders can instantly transfer EUR and USD balances to stablecoins such as USDT and USDC.
According to the company, “In essence, Alchemy Pay has transformed into a true Web3 bank, expanding financial possibilities through its innovative banking system equipped with fiat-crypto conversion ramps.”