Alchemy Pay’s $10M Funding Signals Major Breakthrough In South Korea
- Singapore-based Alchemy Pay secures a $10M investment from DWF Labs to expand its business in South Korea.
- Alchemy Pay provides a unique solution for cryptocurrency firms to access fiat payment systems, enabling local companies to expand internationally.
- Alchemy Pay’s recent partnership with OKX makes it easier for customers to purchase cryptocurrency using local currencies.
Alchemy Pay, a Singapore-based payments provider, has recently received a $10 million investment from market maker DWF Labs at a $400 million valuation, as part of its expansion plans in South Korea.
The company offers a unique and innovative solution for cryptocurrency firms to access fiat payment systems, which provides a way for businesses to connect with the traditional financial system. Alchemy Pay aims to capitalize on South Korea’s high level of crypto acceptance by providing local firms with the opportunity to achieve greater internationalization. The company has previously worked with major payment processors such as Visa, Mastercard, Google Pay, and Apple Pay to achieve this goal.
As part of its efforts to expand its presence in the cryptocurrency market, Alchemy Pay has teamed up with OKX, a cryptocurrency exchange, to make it easier for customers to purchase crypto using their local currencies. Alchemy Pay’s fiat onramp solution has been integrated into OKX‘s platform, which enables customers to access cryptocurrency with ease.
DWF Labs, a market maker, has invested at least $10 million in eight crypto and Web3 projects in the past six weeks, bringing the total to $165 million. The current bearish market is the best time to enter the investment space, according to DWF Labs’ managing partner Andrei Grachev. The company has accumulated enough funds from its profits to invest in projects now, which is a positive indication for the future of the crypto industry.
Alchemy Pay’s native token, ACHP, has a market cap of just over $180 million. The token’s value has been rising steadily, which indicates a positive response from investors. With Alchemy Pay’s innovative payment solutions and DWF Labs’ investments, the future of the cryptocurrency market looks promising.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu