Binance, Alchemy Partnership to enable Bitcoin payments on Shopify

According to a press release, the partnership will facilitate a payment bridge between crypto and fiat through the Binance Pay wallet. Binance Pay can be used for both peer-to-peer payments and merchant-based transactions, where users and merchants can choose from over 40 supported cryptocurrencies.

Moreover, it will enable users and merchants to send and receive crypto payments around the world without incurring special handling fees for using crypto. Alchemy’s network of two million merchants spans across 18 different countries and includes multinational ecommerce company Shopify.

Alchemy Pay was founded in 2018 to build an all-in-one hybrid fiat and crypto payments system for businesses that can be deployed on any existing mainstream systems.