In May, Alchemy Pay set an exciting venture into our new product the Web3 Digital Bank. As a pivotal player in the fiat-crypto payment sphere and a trusted provider of payment solutions, our focus remains squarely on facilitating seamless transactions between fiat and crypto. Whether it's our On & Off-Ramp solution, crypto card, or the upcoming web3 digital bank, every innovation is driven by a deep understanding of our users' and clients' needs.
In addition to facilitating account opening, the Alchemy Pay Web3 Digital Bank also enables enterprises to engage in compliant crypto asset investment. With the increasing mainstream adoption of cryptocurrencies, they are emerging as premium assets, prompting numerous businesses to explore investment opportunities in this sphere.
Through our solution, enterprises can seamlessly invest in crypto assets with the potential for significant gains tailored to their specific requirements. Moreover, Alchemy Pay’s Web3 Digital Bank offers the flexibility to convert crypto assets back into fiat currency, allowing for efficient management within their accounts.
Crypto Investment Needs for Businesses
With the widespread adoption of cryptocurrency and the pivotal events driving its integration into mainstream finance, cryptocurrencies have undeniably forged stronger connections with traditional financial systems. As of now, the SEC has approved the spot ETFs for Bitcoin and Ether (19b-4 filing), marking a significant milestone in the crypto industry. Additionally, key markets such as Hong Kong have officially commenced trading spot ETF products. This positive trend is unfolding globally, and these approvals open up additional investment prospects and drive cryptocurrency closer to widespread acceptance.
But this transformation was underway well before the introduction of spot ETFs in both the United States and HongKong in 2024. On the consumer front, numerous established brands are now embracing cryptocurrencies as a means of purchasing goods, presenting them as an optional payment method for their consumers.
From a corporate standpoint, companies are increasingly turning to cryptocurrency investments as a means of generating revenue and diversifying their asset portfolios. A notable example is Michael Saylor's MicroStrategy, which currently holds a substantial 205,000 bitcoins. Saylor has pursued an active investment strategy in the cryptocurrency market, resulting in a remarkable 675% increase in Bitcoin's value since his initial purchases. This strategic move has significantly bolstered MicroStrategy's share price and market capitalization.
Another illustrative case is Warren Buffett's Berkshire Hathaway, which allocated $750 million in 2021 to Brazilian fintech company Nu Holdings. Nu Holdings' subsidiary, Nubank, operates as the largest digital bank in Latin America and is notably crypto-friendly. Nubank allows individual users to buy, sell, and hold cryptocurrencies directly through its platform, and also facilitates investments in crypto-related ETFs. In 2023, Nu Holdings shares surged by an impressive 93%, marking it as Warren Buffett's top-performing investment for that year.
Alchemy Pay’s Cutting-edge Crypto Investment Solutions
The above case illustrates the widespread need for Web2 businesses to engage in cryptocurrency investments, driven by the allure of substantial returns. However, for traditional businesses, navigating the realm of crypto asset investment poses a significant challenge. Existing solutions predominantly cater to individual users, often falling short in accommodating the financial volumes required by businesses.
Addressing this challenge head-on, Alchemy Pay's Web3 Digital Bank endeavors to alleviate this pain point for enterprises. From initiating cryptocurrency investments to seamlessly converting back to fiat currency, all transactions can be executed within a unified account and interface. This integrated approach streamlines operations, offering businesses a user-friendly platform to effectively manage their funds.
Multi-fiat currency Account Opening: Alchemy Pay enables compliant Web2 enterprises to establish an online virtual account by completing a Know-Your-Business (KYB) certificate. This account functions as a multi-fiat account supporting euros and dollars, facilitating seamless currency conversion between the two. Plans are underway to incorporate additional major fiat currencies, alongside an expansion of supported countries and regions.
All-in-One Platform: Within the account, both fiat currencies can be effortlessly converted to stablecoins like USDT and USDC, consolidating the platform as a comprehensive hub for crypto investments.
Robust Security Measures: Alchemy Pay holds licenses and adheres to regulatory standards in Europe, ensuring the utmost protection for every investment. Furthermore, our operational model refrains from holding funds or assets in escrow, granting companies greater autonomy over their assets.
Established Expertise with 7+ Years: With a foundation dating back to 2017, Alchemy Pay has emerged as a leading expert in crypto payments. Our expertise extends beyond online services, encompassing offline crypto payment acceptance systems as well as Ramp and card services. Leveraging our extensive experience in both crypto and traditional payments, we are committed to assisting businesses in compliant crypto asset investment, fostering their sustainable growth.
In Conclusion
Alchemy Pay's Web3 Digital Bank offers tailored solutions crafted to deliver a seamless, user-friendly experience for enterprises seeking hassle-free online multi-currency account opening and crypto investment services for compliant Web2 companies. Through our bank account services, enterprises gain the capability to securely purchase and retain cryptocurrencies as part of their corporate assets, empowering them with greater financial flexibility and control.
About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off Ramp, Crypto Card, Web3 Digital Bank, NFT Checkout, and Crypto Payments, Alchemy Pay supports payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. Additionally, our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. The crypto payment solution enables merchants to accept crypto payments globally, while allowing users to conveniently spend their crypto assets for everyday purchases. ACH is the Alchemy Pay network token on the Ethereum blockchain.
