Alchemy Pay, a prominent fiat-crypto payment solution provider, has revealed a strategic collaboration with Trust Wallet, a leading self-custody and multicurrency wallet boasting over 70 million users. This partnership aims to streamline the process of buying and selling cryptocurrencies within Trust Wallet, offering users a seamless experience.
The integration between Alchemy Pay and Trust Wallet presents users with a myriad of on and off-ramp solutions. This development is expected to catalyze the adoption of web3 by reducing entry barriers for retail users. Trust Wallet users can now effortlessly convert between crypto and fiat using a diverse range of international and local payment methods. The collaboration supports over 30 fiat currencies and accommodates transactions across more than 100 blockchains, encompassing 10 million cryptocurrencies.
“Alchemy Pay takes great pride in our partnership with Trust Wallet, one of the leading crypto wallets, to provide comprehensive on and off-ramp support to a global user community. Our unwavering commitment is to facilitate a smooth, compliant, and secure user onboarding process on fiat on-ramp and crypto off-ramp,” asserts Robert McCracken, Ecosystem Lead at Alchemy Pay.
Trust Wallet Product Lead Nate Zou expresses enthusiasm about expanding fiat solutions for users through collaboration with Alchemy Pay. Zou emphasizes the goal of making crypto more accessible than ever, offering new buying options, lower fees, and more convenient payment methods while ensuring users retain full ownership of their assets.
Alchemy Pay specializes in providing solutions that bridge cryptocurrency and Web3 services with fiat payment options, making them more accessible globally. With a network covering over 300 fiat payment channels across 173 countries, Alchemy Pay has strategically integrated with popular local e-wallets in Southeast Asia and Latin America, such as GCash, Maya, OVO, Dana, Touch ‘n Go, and Pix.
The company’s primary focus is on emerging markets, and it actively seeks licenses in various countries to enhance its service portfolio and optimize operational efficiency. Alchemy Pay’s recent successes include securing Money Transmitter Licenses in Arkansas and Iowa and plans for regulatory compliance in Hong Kong, the UK, and the US. Serving as the official payment service provider for Visa and Mastercard, Alchemy Pay ensures secure and compliant processes for both onramping and offramping transactions.
Trust Wallet’s Expansion in Latin America through Partnerships
Trust Wallet, known as a decentralized cryptocurrency wallet, is expanding its in-app purchase options for users in Latin America. Collaborations with Alchemy Pay and Banxa are instrumental in this expansion. The partnerships enable users to buy crypto using local payment methods such as PIX in Brazil, PSE in Colombia, SPEI in Mexico, and bank transfers in Argentina and Chile, among others.
The initiative aims to provide users in Latin America with greater convenience and flexibility when purchasing cryptocurrencies. Users will have access to a vast array of over 10 million crypto assets, more than 600 million NFTs, and support for over 100 blockchains. Alchemy Pay’s role as a payment gateway connecting crypto with traditional currencies complements Trust Wallet’s objective of enhancing in-app purchase options for its user base.