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Alchemy Pay Enters into Partnership with MAP Protocol

Alchemy Pay service has become increasingly important in the blockchain space. The ability to deposit directly with fiat money is used by leading blockchains such as Elrond, Polygon, Algorand, NEAR, and Avalanche. MAP Protocol helps solve the interoperability problem and provides dynamic migration of liquidity across the blockchain ecosystem.

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Alchemy Pay (ACH), a leading fiat and crypto payments provider, has partnered with cross-chain protocol MAP. It is a multi-layer blockchain for developers, CryptoMonday learned from a press release.

Find more about the partnership between Alchemy Pay and MAP Protocol and read the latest business headlines with our companion app Born2Invest.

Access to wallets and fiat payments worldwide

To allow users to participate in MAP-hosted applications, MAP will integrate Alchemy Pay’s fiat and crypto payment methods. Users will be able to take advantage of popular crypto wallets and global fiat payment standards.

In this regard, MAP has joined the Blockchain Infrastructure Alliance (BIA), which was formed last year by Alchemy Pay, Polygon, Avalanche, NEAR, Algorand, and others.

Protecting assets on multiple chains

MAP Protocol is a decentralized, cross-chain interoperability protocol supporting its own blockchain. This enables both the transfer of digital assets to other networks and the use of DeFi apps. But it’s more than just a bridge, the developers claim. MAP is intended to be a truly decentralized, cross-Chain interoperability protocol on which developers can build all kinds of DeFi platforms.

MAP helps solve the interoperability problem and provides dynamic migration of liquidity across the blockchain ecosystem, the press release continues.

Vincent Cheng, Eco Director at MAP, commented: “Alchemy Pay’s fiat payment channel and crypto on-ramps make our network more accessible to the mainstream. This has benefits for all developers on MAP who can more directly engage new users in their applications. We are also proud to join BIA and advertise alongside the industry’s leading players.”

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NEAR, Algorand, Avalanche, and Polygon use Alchemy Pay

Alchemy Pay service has become increasingly important in the blockchain space. The ability to deposit directly with fiat money is used by leading blockchains such as Elrond, Polygon, Algorand, NEAR, and Avalanche.

Currently, Alchemy Pay reportedly supports more than 300 payment channels worldwide. These allow users of crypto networks, DeFi services, and dApps to deposit traditional currencies to buy crypto. This is said to work with both traditional bank transfers and credit cards, with the ability to use many local and mobile wallets as well.

John Tan, CEO of Alchemy Pay, said: MAP is an exciting cross-chain project whose versatility and ease of use has attracted many developers. Our partnership with them will improve their access to users and increase the profitability of developers who build on MAP. This kind of ease of access removes one of the biggest barriers to entry for dApps and will drive mainstream adoption.

BIA brings together industry leaders, innovators, and investors

Co-founded by Alchemy Pay in October 2021, the BIA has far-reaching goals. It aims to bring together innovators, industry leaders, and investors to collaborate across the blockchain tech space and jointly promote the development of decentralized finance. As a founding member, Alchemy Pay will connect MAP with other leading projects.

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(Featured image by xresch via Pixabay)

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Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.