In response to the earthquake that struck Turkey in February, Alchemy Pay took immediate action by donating 1 Bitcoin (equivalent to around 430,000 Turkish Lira) to the Ahbap Association, one of Turkey’s largest philanthropic organizations. This donation was aimed at providing assistance to the affected regions and supporting efforts related to relief, resettlement, and reconstruction. Furthermore, Alchemy Pay extended its support to crypto donation and charitable causes by offering ramp services free of charge on ramp fee.
The Ahbap Association’s warehouses located in seven provinces across Turkey, were instrumental in providing essential supplies and distributing them to those affected by the earthquake. The assessment of expenditures, overseen by the Union of Chambers of Certified Public Accountants of Turkey (TURMOB), revealed that cash payments totaling TL 409,162,010.50 were made from bank accounts for earthquake aid purposes in February. These funds were primarily directed towards essential needs such as shelter and food expenditures, as documented in the February audit report released by Ahbap.
Alchemy Pay was later acknowledged for its support in the earthquake-affected region with a donation certificate issued by the Ahbap Association. This certificate served as official confirmation of contribution to the reconstruction efforts and conveyed gratitude for the assistance. Up until July, Ahbap continued to publish comprehensive assessment reports on their official website, meticulously documenting receiving donations and expenditures.
During the post-disaster reconstruction phase, traditional banking services may have delayed responsiveness and encounter challenges in reaching individuals when they urgently need extra funds for essential necessities. In such situations like this earthquake, crypto assumes an increasingly vital role in delivering financial aid to disaster victims. The rapidity, transparency, cost-efficiency, and borderless accessibility inherent in crypto transactions make them a better-suited option for supporting and aligning with the donation process. Leveraging its extensive expertise in conducting related business, Alchemy Pay is fully recognizing the benefits of crypto, and dedicated to enhancing the connection between traditional fiat currencies and cryptocurrencies.
As a socially responsible corporate entity, Alchemy Pay places great importance on providing assistance to those in need. Our business and product designs are aimed at better serving our customers, and our unwavering commitment extends to contributing to society. Turkey occupies a central position in our local market development strategy, and we have been closely monitoring the post-disaster reconstruction efforts. In June of this year, we introduced the capability to purchase crypto through Turkish bank transfers using TRY. We eagerly anticipate the resurgence of Turkey’s vitality and a more prosperous cryptocurrency market.
About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off-Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on Ethereum and BNB Chain.
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