Binance brings Bitcoin payments to Shopify through new partnership

Binance is the world’s largest cryptocurrency exchange by trading volume, and continues to actively expand into the cryptocurrency payment industry through the integration of new cryptocurrencies into fiat currencies.

company Announce On Tuesday, it cooperated with the encrypted fiat currency hybrid payment platform Alchemy Pay to provide peer-to-peer (P2P) encrypted payments to more than 2 million global merchants through its payment application Binance Pay.

The new integration will allow users and merchants to use 40 supported cryptocurrencies (such as Bitcoin) to make payments and accept payments.Bitcoin) And ether (Ethereum) In the 18 countries where Alchemy Pay operates. Binance Pay users will be able to make payments between merchants of Alchemy Pay partners, including e-commerce giant Shopify, software technology company Arcadier, and mobile payment provider QFPay.

According to the company’s website, Alchemy Pay was established in 2018 and operates a global encrypted legal payment gateway through 300 legal and encrypted payment channels in 65 countries/regions. The company’s merchant network also includes Hong Kong’s largest furniture company Pricerite, Singapore’s Cé La Vi, Canadian footwear brand Aldo and Midwest Global Asia taxi services.

The company also runs its own token, Alchemy Pay (ACH), which is an Ethereum-based token used to incentivize the ecosystem and access the consumption and governance of the network. The ACH token has been soaring recently, and its price has risen by more than 1,680% in the past 14 days.

At the time of writing, ACH is trading According to CoinGecko’s data, the price is $0.024, which has risen by nearly 100% in the past 24 hours.On Tuesday, the token is Listed Provided by Coinbase, the world’s major cryptocurrency exchange.

Alchemy Pay 14-day price chart. Source: CoinGecko

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John Tan, CEO of Alchemy Pay, stated that the collaboration between Alchemy Pay and Binance “significantly expands the actual backbone applications we build between the cryptocurrency and fiat currency world.” He also pointed out that when Alchemy Pay was launched, the crypto market’s The total value is “less than one tenth of today.”

As previously reported, Binance Pay is a contactless P2P encrypted payment function on Binance that allows users to send and receive encrypted payments around the world.The application is Launched in the public Alpha version in March this year And it applies to all eligible Binance users.