PRESS RELEASE. Singapore, 12 January 2023: Fiat-crypto payment gateway Alchemy Pay and its co-founder and major shareholder Shawn Shi Forbes have been officially recognized. Web3 Innovation Pioneer Awarded on January 11. The Singapore-based payment solutions provider has a major research and development center in Asia and is at the cutting edge of modern fintech, developing new payment systems – convenient payments that seamlessly move funds between traditional fiat currency and cryptocurrency.
Since its founding in 2018, Alchemy Pay has become Southeast Asia’s number one crypto payment system. In 2022, Alchemy Pay moved to d2c solutions for the first time. Its on-and-off and NFT verification was launched in the third and fourth quarters of last year. Continuous improvements and innovations since the initial release have created a complete set of offerings that satisfy newcomers and surprise crypto-natives. From large-scale exchanges to small, specialized token issuers and dApps, platforms in the Web3 space have integrated ramp services (plugins or APIs).
The Forbes award recognizes the company’s pioneering achievements in fintech/crypto. Forbes selected entrepreneurs, investors and key contributors to Web3 development who contribute to open source projects and crypto ecosystems, saying they aim to “find and showcase value creation by innovative companies in the Web 3.0 space. how the current Web 3.0 wave is shaping a higher level of autonomy.
Shawn Shi commented: “It’s great to be recognized by the industry for our work in payments. The scope is wide and our team always pushes the boundaries. We have proven time and time again that any payment scenario is possible with any customization. I am very proud of our team and will continue to expand our 2023 vision.”
Alchemy Pay finished the year integrating with Arbitrum, the world’s largest Ethereum scale layer 2, going live with Apple Pay, and becoming an official service provider by Visa. Its success stems from its team’s significant working knowledge of legacy finance and blockchain technology. The foundation of Ramp is a network of payment processors, acquirers, exchanges, dApps and blockchains. This was no small task; the team has a wealth of talent and experience and has managed to avoid direct contagion from recent cryptocurrency market crashes and scandals.
Alchemy Pay supports large-scale banking systems such as Mastercard and Visa in 173 countries and SEPA in Europe. Where the team is at the forefront of innovation lies in its unparalleled reach in emerging markets such as SEA and Latin America. Locally based mobile wallets have become a large part of the payments market in these emerging markets, and Alchemy Pay allows users to buy and sell cryptocurrencies using them. The result is that crypto platforms and services are able to tap into otherwise inaccessible markets around the world.
Shawn Shi revealed his thoughts for the next year: “No one will stop us in 2023. This year, we will launch our one-stop app for users who want to experience all the power and reach that Web3 and cryptocurrency can offer. We are building for the long term.”
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