The crypto world is buzzing with the latest collaboration! Alchemy Pay, a premier fiat-crypto payment solution, has formed a strategic alliance with Decentralized USD (USDD), an innovative decentralized stablecoin. This partnership promises to simplify the journey between the conventional fiat and over-collateralized crypto realms.
🎉#AlchemyPay and @usddio, the first over-collateralized decentralized stablecoin, have partnered to integrate USDD into its On-Ramp. The integration eases USDD purchases for users (except USA) using their preferred fiat currencies and payment methods.https://t.co/YfEgOyiYdS pic.twitter.com/PuMG5Ffddd
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) August 8, 2023
USDD is making waves as the first-ever over-collateralized decentralized stablecoin. The crypto market has been rife with concerns about stability. USDD tackles this head-on with complete transparency and a robust backing by mainstream digital assets. It's no wonder the crypto community is all ears!
Seamless Transitions with Alchemy Pay
A significant stride in this partnership was Alchemy Pay's integration of USDD into their esteemed Ramp platform. Users can now effortlessly purchase USDD using local fiat currencies and conventional payment methods. But the horizon holds more! Alchemy Pay is gearing up to launch On-Ramp services. This means that users globally (barring the U.S.) will soon have access to USDD through its official website, with a variety of payment options including Visa, Mastercard, popular e-wallets, and bank transfers.
USDD's Surge in the Stablecoin Realm
A deep dive by Messari reveals USDD's growing influence in the Tron ecosystem, predominantly steered by DeFi protocols. Notably, lending protocols account for a whopping 40% of USDD's use. Major decentralized exchanges (DEXes) like SunCurve and SunSwap on the Tron network have a significant hold over USDD's circulating supply.
With an impressive 5 million USDD borrowed liquidity in Q2 and a staggering 220 million USDD deposited in lending protocols, USDD's rapid growth is undeniable. Much of this momentum stems from the Tron network's advancements, hinting that USDD might just be the next big name riding the Tron wave.
In summary, the Alchemy Pay and USDD partnership is not just a union – it's the future of crypto-fiat interactions!
