News Report Technology
November 30, 2023

Alchemy Pay Expands Payment Options in UK and Europe to Ease Crypto Transfers

Alchemy Pay Expands Payment Options in the UK and Europe

Crypto payment solutions provider Alchemy Pay announced it has expanded payment options in Europe and the United Kingdom.

The company introduced SEPA Instant for Europe and the Faster Payments Service for the United Kingdom, enhancing its On-Ramp service. These tools will allow users to efficiently transfer money and purchase cryptocurrencies within a short timeframe, ranging from seconds to a few minutes.

SEPA (Single Euro Payment Area) Instant functions as a payment network connecting the European banking system, offering round-the-clock real-time transfer capabilities, providing increased flexibility and convenience for cross-border payments.

The Faster Payments Service, a banking initiative in the United Kingdom, aims to expedite processing times for payments between customer accounts at various banks, serving millions of individuals, businesses, and charities across the United Kingdom.

Alchemy Pay‘s On-Ramp, SEPA Instant, offers a transfer limit ranging from €1 to €5000, while Faster Payments has a transfer limit between £1 and £5000. These channels are available to users in 30 European countries and the UK who have successfully completed the KYC process.

Compliance with Regulations for Global Expansion

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that connects cryptocurrencies with traditional fiat currencies. It utilizes On & Off-Ramp—a one-stop solution integrated by platforms and dApps that allows users to buy and sell both types of currencies.

Currently, Alchemy Pay incorporates more than 300 fiat payment channels spanning 173 countries.

The comprehensive coverage of payment channels by Alchemy Pay is supported by the company’s widespread licensing accomplishments and adherence to regulations across various regions.

Recently, the company achieved Money Services License in Iowa, marking its second successful licensing endeavor in the United States, following the acquisition of a license in Arkansas earlier this year. Currently, Alchemy Pay possesses licenses in the United States, Canada, Indonesia and Lithuania.

The company is dedicated to following compliance and regulatory standards that allow it to maintain a status as a reliable crypto payment solutions provider.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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