Given the current market slide, the words of Binance CEO, Changpeng Zhao, on the long term industry prospects will be comforting to crypto holders, “Whether there will be price volatility or if the industry will be hot or cold, I generally recommend that you look at the long term.
In the long term, I believe there is still great room for the development of this industry.”
As Alchemy Pay’s utility token, ACH, gets listed on Binance and the crypto market is in another highly volatile period, it is fascinating to hear the interview CZ did with Alchemy Pay. During the interview, CZ gave his thoughts on regulation, charitable causes, DeFi, and the kind of crypto payment innovations that Alchemy Pay is mastering with its global payment network that bridges crypto and fiat for merchants and users alike.
Despite all the twists and turns, and history blockchain has already made, CZ said the sector and the technology is still just beginning, “we are still at a very early stage in the blockchain. There is still a lot of room for imagination behind its actual application, and there is still a lot of room for exploration. The things we are doing now, whether it is payment, e-commerce, games, sharing chains, will gradually mature, so we are still in the very early stage of the industry.”
Talking about crypto payment models, CZ, spoke of the need to overcome merchants’ unwillingness to invest in new hardware to accept crypto. He said merchants may be, “completely unwilling to spend money to install a POS. In this case, this payment scenario is unable to occur organically. However, recently many traditional financial institutions, including credit cards, banks are already involved in the blockchain industry and they are very willing to cooperate with crypto projects or exchanges.”
Alchemy Pay is a well-established payment-focused project that overcomes the hardware problem with a software solution that bridges crypto and fiat economies. Alchemy Pay’s hybrid crypto-fiat payment enables merchant partners to accept popular cryptocurrencies in offline and online payments at a low cost and with near-instant instant conversion to local fiat currency. The all-in-one system also allows merchants and businesses to accept fiat payments via e-wallets and credit cards. The network is supported by its incentivizing utility token, ACH, an ERC20 token that runs on the Ethereum blockchain.
CZ discussed Binance’s goals to be able to work with traditional finance which they have pushed forward within recent months. He said “As a large exchange in the industry, Binance always welcomes cooperation with traditional financial institutions, and we also welcome cooperation with some innovators in the leading digital currency industry. We hope to provide this bridge so that everyone can work together to push the industry forward.”
Alchemy Pay has been focused on inter-chain cooperation with its recent initiative, the Blockchain Infrastructure Alliance. This was founded alongside cryptocurrency and blockchain leaders in order to bring together industry leaders, innovators, and investors to create synergies across all areas of blockchain technology. It funds and nurtures new projects, and collectively promotes the development of decentralized finance. The alliance was founded alongside Avalanche, NEAR, NEAR, and Polygon among others.
Watch CZ’s interview with Alchemy Pay here.
About Alchemy Pay
Alchemy Pay is an integrated fiat and cryptocurrency gateway solutions provider, powering seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions. The company drives the adoption of blockchain technology by making crypto investment, commercial transactions, and DeFi services readily accessible to consumers and institutions in the fiat economy.
Today, Alchemy Pay supports over 70 countries with 300 payment channels. It has touchpoints with more than 2 million merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay, and more.
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