L1 network aelf has joined hands with payment giant Alchemy Pay to deliver a straightforward and convenient solution for fiat currency off and on ramps. Announced in a blog post on Medium by Alchemy Pay, the collaboration is geared to offer significant benefits to the decentralized applications (dApps) and developers in the aelf ecosystem.
The fiat-crypto ramp service is available on @aelfblockchain, a high-performance layer-1 blockchain, enabling users to buy and sell crypto via fiat currencies. Moreover, users now can purchase $ELF on #AlchemyPay’s ramp.
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) June 15, 2023
Read more at:https://t.co/pZmOIBK2ef$ACH pic.twitter.com/YO34bi8D7C
This partnership will enable developers to effortlessly utilize Alchemy Pay's direct-to-customer plugin on their dApps. Moreover, it will empower consumers worldwide to buy and sell crypto assets using their preferred regional fiat currency methods.
The respective plugin can be instantly integrated into platforms and decentralized applications, making the process cost-effective and straightforward. Alchemy Pay has also listed aelf's native token, ELF, on its ramp, enabling direct purchases with fiat currencies. Alchemy Pay's payment gateway allows payments with leading platforms such as MasterCard and Visa in up to 173 countries.
Moreover, the company facilitates regional transactions and popular mobile-based wallets in several emerging markets. Alchemy's fiat-crypto ramp provides a fast and straightforward Know Your Customer (KYC) procedure, high conversion rates, and low fees. This approach simplifies buying and selling processes, making it as convenient as regular online payments with regional currencies.
In the blog post, Alchemy Pay extolled the virtues of the aelf blockchain, acknowledging its swift processing speed and the critical role of its open-source tools in positioning it within the industry. According to the company, another significant feature of aelf is its distributed node system, structured to fuel the Web3 sector's growth in the coming decade.
The post highlighted that aelf has successfully conducted several hackathons and deployed numerous unique projects on its network. In Alchemy Pay's words, aelf is well-equipped and prepared for the next big boom in the Web3 world.
