Alchemy Pay, the leading fiat-crypto ramp solution provider, has launched several new payment channels across Africa. This strategic expansion is designed to provide African users with greater access and convenience in purchasing cryptocurrency using their local currencies and localized payment method.
Supported Countries and Currencies
Users in 9 African countries can now utilize their local fiat currencies to purchase crypto via local bank transfers. The supported countries and corresponding currencies are as follows: Botswana (BWP), Cameroon (XAF), Kenya (KES), Malawi (MWK), Nigeria (NGN), Rwanda (RWF), Tanzania (TZS), Uganda (UGX), Zambia (ZMW).
Enhancing Accessibility and Convenience Across Africa
The addition of these new payment channels is part of Alchemy Pay’s commitment to making cryptocurrency accessible to a broader audience. By enabling local bank transfers, users can now purchase crypto with ease, leveraging the local financial infrastructure they are already familiar with. This effort is particularly significant in regions where access to global financial systems can be challenging.
What This Means For African Users
- Localized Support: By supporting local currencies and banking systems, Alchemy Pay reduces the friction often associated with cross-border transactions and currency conversions. The localized support leads to higher success rate and lower the potential fees.
- Economic Inclusion: This expansion aligns with Alchemy Pay’s goal to promote financial inclusion by providing more people with the tools needed to participate in the digital economy.
- Better User Experience: The ability to use local bank transfers for crypto purchases simplifies the process, making it more user-friendly and accessible to those who may be new to the world of cryptocurrencies.
Alchemy Pay’s Commitment to Global Reach
Alchemy Pay continues to work towards expanding its global reach, aiming to provide a crucial payments bridge between traditional finance and the global crypto economies. With an expansive payment network across 173 countries, it provides access to an impressive selection of over 300 fiat payment channels. This latest expansion into the African market is a testament to its dedication to providing seamless and efficient payment solutions worldwide, especially in the emerging markets with high demand like Africa.
By introducing new payment options and simplifying the onboarding process, Alchemy Pay enables an increasing number of users to access and engage with cryptocurrencies. Apart from expanding the presence in new markets, Alchemy Pay also committed to empower individuals and businesses in these regions to participate in the crypto economy more effectively. By continuously enhancing payment infrastructure, Alchemy Pay aims to support the dynamic and rapidly growing crypto ecosystem, ensuring it remains inclusive and accessible to all.
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 offerings including On & Off Ramp, Crypto Card, Web3 Digital Bank, NFT Checkout, 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 Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. The Web3 Digital Bank offers an innovative solution, allowing Web3 enterprises to open multi-fiat accounts and facilitating instant conversion between fiat and cryptocurrencies. ACH is the Alchemy Pay network token on the Ethereum blockchain.
