Bitcoin Adaption in Asia: 1.2 million merchants are able to accept BTC by a gateway

  • Alchemy Payment Solution partners with Arcadier and QFPay to provide a payment gateway for Bitcoin and other cryptocurrencies.
  • This payment solution gives over 1.2 million merchants in over 13 markets access to Bitcoin and other cryptocurrencies.

Alchemy Global Payment Solutions Limited is a Singapore-based company that is a pioneer in the field of cryptocurrency payments in Asia. Alchemy has partnered with the fastest growing marketplace in the region (Arcadier) and QFPay to launch Asia’s first hybrid cryptocurrency payment solution, Alchemy Hybrid Payment Solution.

The payment solution can be easily and reliably installed as an app on smartphones, tablets and point-of-sale terminals. Merchants will be supported to accept payments from the most important Fiat Wallets like AliPay, WeChat Pay or Rabbit LinePay and over 30 different crypto currencies (Bitcoin, Ethereum, Bitcoin Cash, Litecoin etc.).

For participating merchants using the Alchemy Hybrid Payment Solution, there is no risk as the payment is processed in the local Fiat currency of their choice, e.g. SGD in Singapore or HKD in Hong Kong. The CEO of Alchemy, Patrick Ngan, describes in the official press release that this is a big step for Asia but also for the crypto market:

The Alchemy Hybrid Payment Solution is a game changer for the global cryptocurrency market as it propels cryptocurrencies towards truly becoming a global currency. It creates real-life use cases for cryptocurrencies as crypto holders can now spend their cryptocurrencies to purchase goods and services in addition to their investment functions.

What is surprising is the statement that Alchemy also wants to support the digital currency of Facebook, Libra in the future:

We will continue to integrate new and popular cryptocurrencies such as Facebook’s Libra to drive usage and liquidity for cryptocurrencies.

Alchemy is currently engaged in further discussions to expand its partner network and thus decisively advance the adaptation of cryptocurrencies worldwide.

Bitcoin Adaption is growing in various areas of the economy

Alchemy and QFPay have launched the payment solution in Hong Kong with Pricerite, the specialist in interior design. The company owns more than 20 retail chains and this innovation makes it the first retail chain in Hong Kong to accept both Fiat and crypto currencies.

The Alchemy Hybrid Payment Solution was also introduced in cooperation with Midwest Global Aisia. Midwest Global Asia is one of the largest providers of payment solutions for transportation companies in Singapore. The company serves more than 2,500 drivers providing coincierge, tour and transportation services.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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