Alchemy Pay/ACH#231 2

What is Alchemy Pay (ACH)?

Alchemy Pay (ACH) is a crypto-fiat payment gateway that connects traditional financial systems with digital assets. ACH is built on the Ethereum blockchain as an ERC-20 token and operates using Ethereum’s Proof-of-Stake (PoS) consensus mechanism. Founded in 2017 in Singapore by Shawn Shi and a team of blockchain professionals, it facilitates cryptocurrency payments with fiat conversion. The platform is designed to integrate cryptocurrencies into everyday financial transactions, allowing businesses and consumers to interact with digital assets alongside traditional currencies.

Alchemy Pay operates in over 173 countries and provides access to multiple fiat and crypto payment channels. The ACH token, launched on September 4, 2019, functions as a utility token within the ecosystem. It was pre-mined with a fixed supply of 10 billion tokens and is used for various transactions and network operations.

Key Features of Alchemy Pay

1. Crypto-Fiat Transactions: Supports payments in both cryptocurrencies and fiat currencies.

2. Global Reach: Available in over 70 countries with more than 300 fiat payment channels.

3. Payment Network Integration: Works with platforms such as Shopify, Binance, QFPay, Visa, and Mastercard.

4. Hybrid Payment Model: Combines on-chain and off-chain transactions.

5. DeFi and NFT Support: Enables fiat payments for decentralized finance (DeFi) and non-fungible tokens (NFTs).

6. Merchant Tools: Offers payment terminals, a mobile DApp, and staking features.

What is $ACH Token?

The ACH token is an ERC-20 utility token within the Alchemy Pay network, used for payments, staking, and governance.

Utility of $ACH Token

1. Transaction Fees: Used to process crypto-fiat payments.

2. Staking and Rewards: Token holders can stake ACH for participation incentives.

3. Network Incentives: Encourages activity within the ecosystem through rewards.

4. Business Onboarding: Companies stake ACH tokens as part of the integration process.

5. Liquidity Management: Supports crypto-fiat conversion operations.

6. Development Funding: A portion of transaction fees contributes to ecosystem growth.