Crypto-fiat payment gateway Alchemy Pay has launched its acquiring solution, starting by supporting Brazil’s PIX instant payment system.
The initiative enables Alchemy Pay’s partners to accept user deposits and process withdrawals in BRL, simplifying the whole process. For users, this means they can deposit funds and withdraw via PIX, leveraging real-time fiat payment capabilities on crypto platforms.
More about the announcement
PIX was introduced by the Central Bank of Brazil in 2020, and became adopted by 76% of Brazilians for instant transfers via mobile banking apps, QR codes, and PIX keys. The solution has already been integrated into global exchanges such as LBank, allowing Brazilian users to deposit and withdraw money with no third-party intermediaries. This integration aims to create a simpler transaction flow, reduce costs, and reduce settlement times.
The initiative builds on Alchemy Pay’s on and off-ramp infrastructure, which supports transactions in 173 countries, more than 50 local currencies, and over 300 payment channels. With this, the company’s mission is to bridge the fiat and crypto economies, support its partners with compliance and secure developments, and offer localised payment options for their clients.
Another recent development by Alchemy Pay in the LATAM region includes its partnership with dLocal, which aims to improve crypto-to-fiat payments. The alliance unlocks instant bank transfers in the region of Argentina, delivering the fiat rails for secure and rapid crypto purchases. Leveraging dLocal’s payment infrastructure, Alchemy Pay is supported in its goal to expand across the region, starting with Argentica and moving to the wider LATAM ecosystem.
As the crypto industry is facing challenges in bridging the gap between digital assets and traditional financial systems, especially in emerging markets, Alchemy Pay aims to offer crypto in phases through local bank transfers. This will allow users to make faster and cost-effective transactions, eliminating the complexity of trying to purchase crypto with local fiat currency.
