Alchemy Pay Crypto joins a string of good news
The Alchemy Pay (ACH) crypto token started the year at a fraction of a cent. Despite an interesting white paper, the ACH token hasn’t had much momentum on its side. And the range of the Alchemy GPS Singapore Pte. Ltd. (the issuer of ACH) looked as promising as possible. That is until the outfit begins to attract a wide range of strategic partners.
Most notably, three major advancements for the payment consensus protocol led to a massive increase in value. Let’s start with what we thought was the biggest news.
In early August, Coinbase, one of the world’s largest and most popular crypto exchanges, announced that it would start allowing users to transfer ACH to their Coinbase Pro wallet. It’s no secret that Coinbase is one of our favorite crypto exchanges. You can read our Coinbase review here. So we anticipated some increased interest and volume of transactions. But the real pop was supposed to come when Coinbase started allowing Alchemy Pay crypto trading.
When ACH started trading on Coinbase, there was a noticeable increase in trading volume. But that turned out to be just the starting point. It’s not often that a Coinbase uplisting is overshadowed. However, that is exactly what happened.
Alchemy Pay Crypto goes from Big Time to Big Time
After being added to Coinbase, Alchemy GPS Singapore Pte. Ltd. announced two additional partnerships. The first was with Cobo – a crypto custodial service provider. And the pair are making a fantastic match. But to make sense of the pairing, it’s important to first know what the two specialize in.
Alchemy’s specialty is as a provider of crypto-fiat hybrid payment solutions. And Cobo offers a secure and premium cold storage portfolio. This is in addition to the custodial services for institutional investors that it offers. Thanks to this partnership, Alchemy Pay will be able to access the Cobos customer network. And in addition, he will now be able to offer improved security and custodial benefits with guidance from Cobo.
As the two work together, the plan is to be able to offer overseas payment channels to millions of customers. This partnership could cause major disruption in virtually any industry where people pay for goods or services. On top of that, it could have impacts on the remittance industry. Anyone looking to send money across a border to friends or family could apparently benefit from this partnership.
The global remittance market was valued at over $ 682 billion in 2018. And it is predicted to reach $ 930 billion by 2026. Despite the huge amount of money going through the process of transfer, no one expedited the process. It still takes days to get the end user… As banks cut (on average) 7% off the top to stay in their pockets. To be able to send money quickly and cheaply around the world would be huge.
All of this apparently caught the attention of another partner …
Another exchange, another dynamic partnership
One of the best ways to increase the value of a governance token is to increase its usability. And Alchemy Pay’s partnership with the Binance crypto exchange gives the impression that Alchemy Pay crypto is just starting to heat up.
With this collaboration, the two seek to create a payment bridge between crypto and fiat through the Binance Pay wallet. This announcement is important because Binance is the largest crypto exchange in the world. And Binance Pay is a user-to-user cryptocurrency payment feature on the Binance app. Its functionality was built around the idea of allowing users and traders to send and receive crypto payments worldwide without incurring special processing fees for using crypto.
But with this union, users and merchants will be able to choose their payment method or get paid from fiat dollars and over 40 supported cryptocurrencies. This is a big boon for Alchemy Pay crypto and the new Binance Pay features. Users will be able to convert and spend their favorite cryptos at over 60 million merchants around the world. And that number is only expected to increase… Especially now that the expansion of offerings will be so much more robust.
The result on Alchemy Pay Crypto
It has been a difficult year for Alchemy GPS Singapore Pte. Ltd. But this did not happen in a vacuum. A lot of work has been done behind the scenes to put these massive and revolutionary partnerships in place. And it wouldn’t be at all surprising if more positive news would arrive soon… All of this will only increase the rate of use and adoption of Alchemy Pay crypto.
It can be hard to imagine more upside potential from a crypto that has swelled 3,000% in such a short time. But the signs point to exactly that. Alchemy Pay crypto was on almost no one’s radar a few weeks ago. And now he’s making his way into the mainstream. This is what is behind the massive increase in the volume of transactions… And why we believe that it is far from reaching a plateau. A dip here or there is likely. A period of reflection is likely after the arrival of FOMO investors. But Alchemy Pay crypto has earned its place in the wallets of many investors. In the long term, therefore, the prospects for a further rise in value seem very likely.
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About Matthew Makowski
Matthew Makowski is Senior Research Analyst and Writer at Investment U. He has studied and written about the markets for 20 years. As comfortable with identifying value stocks as he is with discounts in crypto markets, Matthew started mining Bitcoin in 2011 and has since focused on cryptocurrency markets as a whole. He is a graduate of Rutgers University and lives in Colorado with his dog Dorito.