Alchemy Pay, a leading service provider for on-ramp and off-ramp transactions, has announced a new collaboration with Linea, as disclosed in an official blog post on Thursday. This partnership aims to advance blockchain accessibility by integrating Linea’s network into Alchemy Pay’s platform. Linea, described as a user-friendly zk-Rollup powered by Consensys, is expected to benefit significantly from this collaboration.
Expanding Integration and Coverage
The integration with Linea will facilitate the seamless transfer of virtual assets on its network, including ETH, USDT, USDC, and FOXY, through local fiat currencies. This move is not only expected to streamline asset transfers but also to serve as an expansion effort for Linea, enhancing its network coverage and simplifying transactions.
The collaboration implies that Alchemy Pay, as an on-ramp and off-ramp service provider, will now be part of the Linea ecosystem. This inclusion allows users and developers easy access to Alchemy Pay’s payment services, enabling smooth conversion between cryptocurrency and fiat currencies. The initiative leverages popular fiat payment gateways such as Visa, Mastercard, Google Pay, Apple Pay, as well as other mobile wallets and bank transfers, to achieve its goals.
Previous Partnerships and Strategic Goals
This partnership follows closely on the heels of Alchemy Pay’s recent collaboration with the cryptocurrency exchange Bitget. According to a Binbits report, the partnership with Bitget is focused on providing crypto payment solutions for the Indian Rupee (INR), utilizing the support of UPI and IMPS. This indicates Alchemy Pay’s strategic efforts to expand its reach and enhance its payment solutions across different regions.
About Linea and Alchemy Pay
Linea is recognized as a prominent zkEVM ecosystem within the decentralized application sector. Its cryptographically secure zk infrastructure has established a strong security-oriented ecosystem culture, ensuring that the web3 landscape is safe and accessible for all users. Linea’s focus on security has resulted in a robust system within the web3 environment and other hosted ecosystem activations.
On the other hand, Alchemy Pay’s on-ramp capabilities are compatible with numerous cryptocurrencies, supporting seamless fiat-based purchases. Alchemy Pay has made significant strides globally, establishing its presence in 173 countries. The payment system boasts over 300 local payment channels, extending beyond traditional credit cards, and ensuring global accessibility for acquiring cryptocurrencies through various payment methods.
Alchemy Pay’s services are also compliant with regulations across multiple jurisdictions. The firm has secured payment-services licenses in several countries, including the UK, the U.S., Canada, Indonesia, and Lithuania, ensuring its operations adhere to local regulatory standards.
Conclusion
The partnership between Alchemy Pay and Linea represents a significant step toward enhancing blockchain accessibility and simplifying cryptocurrency transactions. By integrating Linea’s network into its platform, Alchemy Pay aims to provide users and developers with a more streamlined and efficient way to convert between cryptocurrencies and fiat currencies. This collaboration underscores the commitment of both companies to advancing the blockchain ecosystem and making it more accessible and secure for all users.