Paysafe has recently announced a strategic partnership with Alchemy Pay, a leading fiat-crypto payment solution provider. This collaboration will allow users in 130 countries to purchase cryptocurrencies like Bitcoin and Ethereum using over 40 fiat currencies. The partnership aims to enhance Alchemy Pay’s offerings for crypto exchanges, Web3 companies, and other crypto businesses by integrating Paysafe’s payment products. In the first phase of the partnership, Alchemy Pay has incorporated Paysafe’s Skrill and NETELLER digital wallets, as well as various third-party local payment methods, into its Fiat On-ramp solution. Paysafe’s open banking solution in the UK and 15 European countries enables direct bank account payments for crypto purchases.
This partnership between Paysafe and Alchemy Pay expands Alchemy Pay’s payment solution, offering more options and reducing transaction friction for crypto partners and their customers. The integration of local payment methods, which are highly recognized in specific markets, combined with Skrill and NETELLER’s global reach, aims to minimize abandoned transactions and enhance the payment experience. Micah Kershner, SVP of Crypto & Digital Assets at Paysafe, emphasized the large user base and popularity of Skrill and NETELLER among crypto holders. Kershner stated, “We’re delighted to partner with Alchemy Pay, which like Paysafe has a global footprint. The Skrill and NETELLER wallets’ large user-base and popularity among crypto holders, along with the integration of local payment methods, will power Alchemy Pay’s Fiat On-ramp with more payment options.”
In the second phase of the partnership expected later this year, Alchemy Pay will integrate additional Paysafe payment options in other regions of the world. This further collaboration will provide even more flexibility and convenience for users looking to purchase cryptocurrencies using fiat currencies. By combining Alchemy Pay’s innovative payment solutions with Paysafe’s trusted and reliable payment products, the partnership aims to create a seamless and efficient payment experience for crypto enthusiasts globally. The expansion of payment options and integration of local payment methods will cater to the diverse needs of users across different markets and regions.
Overall, the strategic partnership between Paysafe and Alchemy Pay signifies a significant step towards making cryptocurrency transactions more accessible and user-friendly. The integration of Paysafe’s payment products with Alchemy Pay’s solutions will not only streamline the purchasing process for users but also provide a wider range of payment options to choose from. As the cryptocurrency market continues to evolve and grow, partnerships like this one will play a crucial role in driving innovation and enhancing the overall user experience. With plans to expand the partnership further in the future, users can look forward to more convenient and efficient ways to buy cryptocurrencies with fiat currencies in multiple regions around the world.
