Alchemy Pay

Alchemy Pay is a Singapore-based payment infrastructure provider that connects fiat currency systems with crypto networks, enabling users and businesses worldwide to buy and sell digital assets using local payment methods. The company has also announced Alchemy Chain, a Layer 1 blockchain built on the Solana Virtual Machine.

Core Mechanism

Alchemy Pay operates as a fiat-crypto gateway built around two primary services. Its On-Ramp enables users to purchase cryptocurrency directly with fiat currency via credit cards, bank transfers, and mobile wallets. Its Off-Ramp does the reverse: users sell crypto and receive fiat in local bank accounts or mobile money wallets. The company integrates more than 300 fiat payment channels and methods across more than 173 countries, with particular emphasis on localized payment rails such as regional bank transfers, country-specific wallets, and mobile financial services.

On the developer side, Alchemy Pay provides multiple integration paths: a hosted page integration, standard and native API integrations, and Android/iOS SDKs. Partners access a merchant dashboard, webhook-based order notifications, and query APIs for pricing and payment method availability. The platform manages KYC verification as part of its compliance stack.

Products and Features

On-Ramp and Off-Ramp: The flagship products handle fiat-to-crypto and crypto-to-fiat conversions across a wide range of assets and geographies. Recent geographic expansions include Bangladesh, where Alchemy Pay integrated four mobile financial services — bKash, Nagad, Rocket, and Upay — enabling purchases in Bangladeshi Taka.

Web3 Digital Bank: Launched in 2024, this product targets Web3 enterprises needing banking infrastructure that spans traditional finance and on-chain activity.

Alchemy Chain (announced, upcoming): Announced in October 2024, Alchemy Chain is a planned Layer 1 blockchain built on a Solana Virtual Machine (SVM) architecture, designed for payment-centric use cases. Its consensus model is called Trusted Proof-of-Authority (TPoA), intended to balance transaction throughput, security, and validator integrity. The ACH token will function as Alchemy Chain's gas currency, while users can also pay fees in fiat since the chain automatically converts between the two. A technical roadmap was slated to be revealed in April 2025.

ACH Token

ACH is Alchemy Pay's network utility token, issued as an ERC-20 on Ethereum (contract: 0xed04915c23f00a313a544955524eb7dbd823143d). Its current roles include paying transaction fees, providing network rewards to participants, reducing costs for frequent users, and serving as a pledge staked by business partners during onboarding. When Alchemy Chain launches, ACH will additionally function as that chain's gas token.

Regulatory and Compliance Status

Alchemy Pay has pursued a multi-jurisdiction licensing strategy. By the end of 2024 it held 12 licenses across multiple regions, including Money Transmitter Licenses in six U.S. states (New Hampshire, New Mexico, Minnesota, Oklahoma, Oregon, and Wyoming), Authorized Payment Institution licenses in the UK, and registration under Visa's Ramp Provider Program, placing it among a select group of crypto-to-fiat providers recognized for operational integrity.

Partnerships and Integrations

Alchemy Pay's ramp services are embedded across a range of platforms. Notable integrations include Ledger Live (covering on- and off-ramp access across 173 countries and 50+ fiat currencies), Uniswap, Lido, CoinEx, Agora for the AUSD stablecoin, Cake Wallet, and the Cocos SDK for blockchain gaming. Blockchain-level partners cited in company materials include Tether, TON, BNB Chain, Coinbase Wallet, Algorand, Linea, Metis, and Celo. The company also holds integrations with Worldpay and Mastercard. As of the 2024 annual review, it had established more than 1,000 business collaborations.

Scale (2024 Data)

The company's 2024 annual review reported 3 million users, 8 million transactions completed (300% year-over-year growth), and more than 1 million community members.

Solana Ecosystem Fit

Alchemy Pay's most direct connection to the Solana ecosystem is Alchemy Chain, its planned Layer 1 blockchain built on the Solana Virtual Machine. By adopting the SVM as its execution environment, Alchemy Chain inherits Solana's parallel transaction processing model and tooling compatibility, while adding a native fiat-payment layer. This architecture is designed to serve Solana-native DeFi protocols, wallets, and dapps that want embedded fiat on-ramp and off-ramp capabilities. SOL is also listed as a purchasable asset through the Alchemy Pay ramp platform. Alchemy Pay's roadmap positions it as payment infrastructure for the broader SVM ecosystem.