Alchemy Pay introduces Alchemy chain to integrate fiat and crypto

Alchemy Pay (CRYPTO:ACH) has launched a new blockchain, Alchemy Chain, focused on improving the integration of traditional fiat currencies and cryptocurrencies. 

Built on the Solana Virtual Machine (SVM) architecture, this blockchain provides infrastructure to support higher transaction volumes within Alchemy Pay’s payment ecosystem.

Alchemy Chain seeks to bridge digital and traditional finance by offering features to streamline transactions and improve user experience. 

The blockchain utilises a Trusted Proof of Authority (TPoA) mechanism, designed for security and speed.

It allows users to pay gas fees using either Alchemy’s native ACH token or fiat currency, offering flexibility in managing costs.

“Users can easily cover gas fees and transactions using $ACH or fiat, allowing profits and other on-chain earnings to convert smoothly into fiat currency,” Alchemy Pay stated.

In addition to its primary functions, Alchemy Chain plans to introduce tools for developers and meme coin projects. 

The company’s “Meme Launchpad” is intended to simplify the process of launching meme-based tokens, and a “Meme Telegram Bot” will be available to facilitate interactions within the ecosystem.

Following the announcement, Alchemy Pay’s native token, ACH, experienced a price increase of 13% after reaching a key support level. 

Market analyst CryptoBull_360 noted, “This level acted as a strong base for $ACH, leading to increased buying interest when prices fell to this threshold.”

At the time of reporting, the Alchemy Pay price was $0.02009.