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Alchemy Pay and Ripple Join Forces to Advance the Crypto Landscape

In an exciting development within the fintech realm, Alchemy Pay, a prominent player in the cryptocurrency payment solutions sector, has announced a partnership with Ripple, the leading blockchain-based payment protocol. This collaboration aims to enhance the accessibility of fiat to cryptocurrency transactions through the introduction of Ripple USD (RLUSD), a stablecoin pegged to the U.S. dollar, issued by Standard Custody Trust Company, a subsidiary of Ripple Labs.

The partnership represents a strategic move to simplify the purchase process of RLUSD for users in over 173 countries. With Alchemy Pay’s extensive network that facilitates fiat-crypto payments, transactions can now be executed seamlessly using more than 300 local payment methods. These methods include traditional channels like Visa and Mastercard, as well as modern options such as Apple Pay, Google Pay, and various regional mobile wallets and bank transfers. This integration significantly lowers the barriers that individuals and institutions face when entering the world of stablecoins, enabling a wider audience to access digital assets comfortably.

RLUSD is engineered to prioritize trustworthiness, liquidity, and regulatory compliance. Each token is fully backed by U.S. dollars held in reserve, ensuring the security of the fiat assets in conjunction with the advantages afforded by blockchain technology. With its appropriate design for enterprise applications, RLUSD is anticipated to serve as a vital asset in cross-border payments and the wider digital finance infrastructure, taking full advantage of Ripple's reputable ecosystem and its deep understanding of regulatory requirements within the financial sector.

As Ripple continues to broaden its array of practical applications within the blockchain sphere, RLUSD is set to play a significant role in delivering dependable and liquid digital currencies to financial institutions, developers, and enterprises around the globe. Ripple's established leadership and expansive licensing network add further legitimacy to RLUSD, ensuring its usability within regulated environments, giving users peace of mind as they navigate this emerging financial landscape.

This collaboration is poised to accelerate the adoption of stablecoins, representing a considerable stride towards creating a reliable connection between traditional finance and the blockchain-driven economy. Alchemy Pay is recognized as a trailblazer in bridging fiat and cryptocurrency, combining its global reach with profound expertise in navigating regulatory frameworks. This makes it the preferred partner for Web3 initiatives that seek to improve accessibility and broaden the adoption of digital currencies.

The statistics from Alchemy Pay’s recent activities reflect robust growth. In 2024 alone, the platform recorded three million registered users, processed eight million transactions, and saw a threefold increase in its user base. It has successfully secured regulatory approvals in key markets, including the United Kingdom, Switzerland, the United States, Canada, Australia, South Korea, Indonesia, and Lithuania. These accomplishments place Alchemy Pay at the forefront of compliant and efficient crypto payment solutions, setting a gold standard for accessible digital financial services worldwide.

Through the integration of RLUSD into its payment infrastructure, Alchemy Pay aims to further its mission of democratizing access to digital assets. This partnership not only enhances the levels of accessibility to cryptocurrencies but also contributes to the intention of crafting a more inclusive and user-friendly ecosystem for crypto enthusiasts and casual users alike.

About RLUSD

Ripple USD (RLUSD), Ripple's USD-denominated stablecoin, is designed to maintain a constant value equivalent to one U.S. dollar. It operates natively on both the XRP Ledger and Ethereum blockchains and is entirely backed by a transparent reserve of cash and cash equivalents, which can be redeemed for U.S. dollars. This feature allows for secure, real-time, and compliant payments, connecting the dots between fiat currencies and stablecoins across various platforms and markets.

Standard Custody, the organization responsible for issuing RLUSD, adheres to rigorous standards of safety and regulatory compliance, ensuring that all reserves are adequately backed and managed in accordance with the New York Department of Financial Services (NYDFS) guidelines. This oversight reinforces the trustworthiness of RLUSD as a financial instrument within the broader crypto space.

About Alchemy Pay

Founded in 2017, Alchemy Pay operates as a payment gateway that links traditional fiat money with cryptocurrencies. Its offerings include the On/Off-Ramp, a Web3 Digital Bank, NFT Checkout, and a newly launched RWA platform aimed at democratizing investments in tokenized real-world assets. By catering to global users and ensuring multi-fiat accounts with easy conversion to cryptocurrencies, Alchemy Pay is not just facilitating transactions but revolutionizing how people interact with financial assets worldwide.