Alchemy Pay, a payments provider based in Singapore that facilitates conversions between fiat and cryptocurrency, has broadened its offerings by incorporating support for Hedera’s native token.
The company announced on April 3 the integration of Hedera (HBAR) and USDC (USDC) on its blockchain platform. The new on-ramp solution enables users to purchase these digital assets easily using credit cards, bank transfers, and local payment methods.
Recently, Alchemy Pay (ACH) launched its own blockchain and introduced support for both on and off-ramping with the Movement token and the Ledger Live platform.
The addition of Hedera support follows a collaboration with the HBAR Foundation, which is dedicated to fostering web3 projects on the Hedera blockchain. HBAR and USDC are fundamental assets within this ecosystem, and Alchemy Pay aims to enhance its fiat-crypto solution’s outreach.
This initiative will play a vital role in advancing Hedera’s presence in markets focused on real-world asset tokenization and artificial intelligence.
Additionally, Alchemy Pay’s solution is set to strengthen the decentralized finance (DeFi) landscape for Hedera. The blockchain network is receiving growing interest in regulated security tokens and non-fungible tokens (NFTs), with RWA, DeFi, and NFTs being significant ecosystems within the larger crypto and blockchain domain.
The platform has also recently proposed two enhancements designed to catalyze further growth for Hedera.
In addition to enabling new functions for HBAR, these proposals introduce native scheduled transactions within smart contracts, facilitating multi-party coordination and scheduling that is essential for developers creating and launching advanced decentralized applications.
At the end of March, Hedera revealed that its native token is now available for use within Telegram Wallet, providing access to HBAR for the platform’s 1 billion monthly active users. This allows users to buy, sell, and store HBAR through the non-custodial wallet.