In a significant move, Alchemy Pay has deployed its payment services on Polygon's innovative zkEVM chain, becoming one of the pioneering fiat-crypto on-ramp providers to support this ecosystem. This development opens up the opportunity for users worldwide to effortlessly acquire cryptocurrencies using their preferred local fiat payment methods.
For developers immersed in the zkEVM network, Alchemy Pay offers a direct-to-customer plugin that can be seamlessly integrated into dApps and platforms with minimal effort and cost. Alchemy Pay has been actively supporting tokens and projects on Polygon's mainnet since 2021. As a globally recognized fiat-crypto payment gateway, it has been chosen as one of the initial on-ramp providers to integrate its services with Polygon's new chain.
Polygon's zkEVM is a Layer 2 scalability solution for Ethereum, harnessing cryptographic zero-knowledge proofs to ensure quick finality and transaction validity in off-chain computations, known as ZK-Rollup. Developers working on Polygon zkEVM can leverage familiar Ethereum code, tools, and applications but with enhanced throughput and reduced fees.
The architecture of zkEVM involves a zero-knowledge Prover (zkProver), State Machines within zkProver, the zkEVM Bridge smart contract, and specialized tooling that collectively enables Polygon zkEVM to deliver its goals. Existing smart contracts can be effortlessly deployed to zkEVM, allowing users to deposit assets from Ethereum and conduct off-chain transactions. These transactions are grouped into batches, each accompanied by a zero-knowledge proof verifying its validity, thus inheriting Ethereum's robust security.
Alchemy Pay's payment gateway is renowned for facilitating payments through major cards like Visa, Mastercard, Discover, and Diners Club across 173 countries. It also supports domestic transfers and mobile wallets in developing markets. The platform offers a user-friendly KYC process, competitive fees, and exceptional conversion rates, making cryptocurrency transactions with local currencies as straightforward as typical online payments. With over 300 fiat payment channels, Alchemy Pay goes beyond card payments to include local mobile wallet options.
Established in Singapore in 2017, Alchemy Pay bridges the gap between cryptocurrency and traditional fiat currencies with its on and off-ramp solution, NFT checkout, white-label crypto-funded cards, and crypto payment services. This strategic integration with Polygon's zkEVM further expands its global reach and user accessibility, simplifying the cryptocurrency onboarding experience for enthusiasts around the world.
