Popular blockchain project VeChain (VET) announced that it has partnered with cryptocurrency payment provider Alchemy Pay. This collaboration is expected to increase the usability of VeChain.
According to a recent announcement, the partnership will enable cryptocurrency enthusiasts to purchase goods from more than two million stores worldwide using VeChain’s native digital currency VET.
Blockchain platform VeChain announced the collaboration on Twitter:
“Thanks to our partner Alchemy Pay, VET can now be used to purchase goods in over 2 million stores worldwide!”
Thanks to partner @AlchemyPay, $VET can now be used to buy goods at 2 million+ stores globally!
Using our advanced low-#carbon #blockchaintransactions cost fractions of a cent & are processed in seconds from any #VeChain wallet!$ACH #DeFi $VTHO #web3https://t.co/ceeHRpcbKT
— VeChain Foundation (@vechainofficial) April 27, 2022
According to the announcement, thanks to VeChain’s low-carbon and scalable blockchain architecture, customers interested in the solution will only pay a very low transaction cost when using the service:
“Using our advanced low-carbon blockchain, transactions will cost a tiny fraction of a cent and any transaction can be processed within seconds from the VeChain wallet.”
Alchemy Pay bridges the gap between crypto and fiat money
Alchemy Pay, which is clear that they are very excited about the partnership, also shared on Twitter, which Elon Musk had just bought, to announce the development. The company said:
“We have great news for VeChain supporters! You can now use VeChain’s VET token to pay 2 million merchants in over 70 countries worldwide!”
😃 Great news VeChainers! You can now use @vechainofficial‘s $VET token to pay at 2+million merchants in over 70 countries around the world!
🌎 Watch our crypto acceptance system in action in Toronto, Canada 👉 https://t.co/U7dCw3PMw8#VeChain #AlchemyPay $ACH pic.twitter.com/7M4cJrcW7C
— Alchemy Pay | $ACH (@AlchemyPay) April 27, 2022
Alchemy Pay is an all-in-one online and offline crypto-fiat payment gateway for different businesses including cryptocurrency exchanges and e-commerce platforms.
The firm is focusing on bridging the gap between cryptocurrency and fiat, which it believes will support widespread adoption of digital currencies in the real world.
The availability of VET is increasing
This development will lead to massive adoption of the altcoin, especially for those interested in using the cryptocurrency to purchase items from supported stores, which will increase the usability of VET.
Despite this, the news that the digital currency can now be used to purchase goods in more than two million stores, VET price did not have a significant effect on
The token has only recorded a small gain from a low of $0.048 to a low of $0.053. At the time of writing, the altcoin has corrected due to the decrease in Bitcoin price, and at the time of writing, it is changing hands around $ 0.048.
Besides, VeChain recently announced that it will give away $500,000 to its community to celebrate the launch of its stablecoin VeUSD.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.