Thanks to the partnership with Alchemy Pay, Binance will bring the Binance Pay service to Shopify. This means that it will be possible to use bitcoin on the popular payment network.
Alchemy Pay is a fiat-crypto hybrid payment provider. The aim of this agreement is to build a bridge for crypto payments via the Binance Pay wallet.
Binance Pay is Binance’s service that enables cryptocurrency payments via the Binance app. Used worldwide, it enables cryptocurrency payments without any additional fees.
Other networks that support Alchemy Pay include:
- Ce La Vi,
- Arcadier SaaS,
In addition to these brands, the Midwest Global Asia taxi service also includes a network of 2,500 limousine drivers.
In short, there are all the premises for an agreement that may prove interesting for the spread of cryptocurrencies.
The CEO of Alchemy Pay, John Tan, commented:
“Alchemy Pay was founded in 2018 by a team of fiat payment gateway veterans with a shared vision to build a practical bridge between fiat and crypto. When we started, the total value of the cryptocurrency market was less than a tenth of a percent of what it is today. Electronic payments outside of the $80 trillion fiat economy were virtually unknown to the world. Alchemy Pay’s partnership with Binance for the Binance Pay wallet significantly expands the practical backbone applications we build between the crypto and fiat worlds”.
Binance Pay and Shopify
Binance Pay is a new service from Binance, launched a few months ago in beta. Its purpose is to allow users to receive and accept cryptocurrency payments, in contactless mode, through Binance. The function is dedicated in particular to merchants.
The integration with Binance Pay would not be Shopify’s first in the cryptocurrency field. The partnership with Coinpayments had already introduced cryptocurrency payment systems on the famous platform.
As Binance is one of the world’s most popular exchanges, this collaboration could be a further step towards spreading the use of crypto as a payment method.