Golden Finance reports that the cryptocurrency payment provider Alchemy Pay has announced plans to launch its own L1 public chain. The company stated that this blockchain will target large-scale commercial applications. The L1 blockchain will be called Alchemy Chain and will be built on the Solana (SOL) virtual machine architecture. According to the announcement on December 11, the new L1 will provide a payment system that allows users to transact using both fiat and cryptocurrencies.