Alchemy Pay has a strong foothold in Europe, Southeast Asia, and Northern and Latin America. It is now looking to further its expansion in the Korean market. That could soon be a reality, considering the payment gateway service provider has entered into a strategic partnership with DWF Labs. The developments came to light after Alchemy Pay secured funding of $10 million from the multi-stage Web3 investment firm.
Alchemy Pay reportedly had a $400 million market value at the time of funding.
Alchemy Pay plans to utilize the funds raised by capitalizing on the high level of acceptance of cryptocurrency in Korea, expand the payment business in the market, and assist regional companies in achieving their international aspirations.
DWF Labs adds to the list that has big and traditional names like Google Pay, Apple Pay, Visa, MasterCard, and Diners Club, to mention a few. Alchemy Pay surpasses conventional means of payment by providing access to more than 300 different payment channels on a local level..
Seeking investment from DWF Labs is part of Alchemy Pay’s goal of entering emerging markets.
Another way in which Alchemy Pay is showing signs of development is by bringing innovations like the NFT Checkout service. It basically allows users to purchase non-fungible tokens seamlessly by leveraging their local currencies. Meaning, NFT Checkout by Alchemy Pay eliminates the need to convert traditional currencies into cryptocurrencies for the purpose of buying NFTs.
Robert McCracken, CEO of Alchemy Pay, is certain that the well-funded company will soon expand its payment services by entering the Korean market as a result of the cooperation and growth in the Korean market. According to the ecosystem lead, Korea is a promising region where Alchemy Pay can establish a solid foundation for future growth.
DWF Labs’ Andrei Grachen is thrilled to be working with Alchemy Pay. The Managing Partner has lauded Alchemy Pay’s dedication and ingenuity, praising the company for helping to bridge the gap between analogue and digital money transfer.
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