Funding is a critical component to the success of altcoin projects, as it ensures the development and maintenance of the project. It also supports marketing efforts to attract users and investors, encourages trader adoption and innovation, and provides competitive advantage. Without funding, altcoin projects have a hard time distinguishing themselves from their competitors and may not be able to keep up with the rapidly evolving cryptocurrency market. Therefore, access to investment from large companies is essential for altcoin projects to be successful and remain competitive over the long term. The latest investment news has come for the popular altcoin Alchemy Pay (ACH). Here are the details…
$10 million fund to altcoin project
Global cryptocurrency payment service provider Alchemy Pay has announced a strategic partnership with DWF Labs, a multi-stage web3 investment firm, to expand its business into the South Korean market. The partnership will provide Alchemy Pay with $10 million in funding to strengthen its payment services and help Korean businesses go global. At the financing stage, the estimated value of Alchemy Pay seems to be around $400 million. cryptocoin.com As we reported, the company has partnered with Visa, Mastercard, Discover, Diners Club, Google Pay, Apple Pay and more than 300 local alternative payment channels worldwide.
The focus is on providing access to emerging markets and creating broad coverage covering Europe, North and Latin America and Southeast Asia. In addition to its payment services, Alchemy Pay has introduced its innovative NFT Checkout service, which allows customers to receive NFT using fiat money payment options, making the process as easy as any other standard online payment. With this function, users can easily buy NFTs using their local currencies.
ACH price jumps
Alchemy Pay’s ecosystem leader, Robert McCracken, stated that Korea offers a promising market for Alchemy Pay. By using payment solutions, more South Korean companies can close the gap between cryptocurrencies and traditional fiat currencies and keep pace with global economies. Andrei Grachev, Managing Partner of DWF Labs, expressed his excitement at partnering with Alchemy Pay, saying that the strategic partnership will accelerate Alchemy Pay’s growth in South Korea and provide more opportunities for businesses and consumers to embrace the benefits of crypto assets and web3 technologies.
The partnership with DWF Labs will enable Alchemy Pay to expand its business into the South Korean market and benefit from the region’s high level of cryptocurrency adoption. The received funding will strengthen the company’s payment services and help Korean businesses become more globalized. With innovative payment solutions and the aim of bridging the gap between cryptocurrencies and traditional finance, Alchemy Pay is poised for further growth and expansion. Finally, ACH jumped from $0.032 to $0.0377 on the back of the last investment it received. At the time of writing, it has returned to $0.034.
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