Globally renowned fiat-crypto payment gateway Alchemy Pay marked a monumental stride on Tuesday, banking upon a partnership with pan-African fintech firm Yellow Card. The crypto payment gateway firm recently revealed that it is collaborating with the fintech firm in an effort to facilitate on-ramp services in Africa. Meanwhile, the crypto project’s native coin, ACH’s price gained nearly 1% in tandem with the partnership announcement, sparking global discussions.
Alchemy Pay Teams Up With Yello Card To Offer Fiat-Crypto On-Ramp Services In Africa
According to an official press release by Alchemy Pay dated October 15, the collaboration with Yellow Card aims to bring on-ramp services (conversion of traditional currency into cryptocurrency) to Africa. By harnessing Yellow Card’s unique payment infrastructure, ranging from bank transfers to mobile money options, the entities aim to cater to the growing Web3 market nationwide.
Further, the partnership gauges in on countries such as Botswana, Cameroon, Rwanda, South Africa, Uganda, and Zambia, allowing individuals to purchase crypto and access the benefits of decentralized finance via local currencies such as BWP, XAF, RWF, ZAR, UGX, and ZMW.
Simultaneously, the ecosystem lead at the crypto payment firm, Robert McCracken, stated, “Yellow Card has established itself at the cutting edge of digital payments across Africa. With their support for local payment rails there, Alchemy Pay is able to quickly extend its on-ramp coverage to serve millions of new users in these regions.”
On the other hand, Gillian Darko, chief of staff and director of strategy at the fintech firm, stated that the partnership comes with immense excitement “as it reinforces our commitment to accelerating financial growth across the continent. By leveraging our extensive payment infrastructure, we are opening more doors for seamless access to stablecoins and decentralized finance in Africa.”
ACH Price Springs
Meanwhile, ACH price noted gains worth nearly 0.5% at press time and is currently trading at $0.01976. The coin’s intraday low and high were recorded as $0.0195 and $0.02042, respectively. Moreover, Alchemy Pay’s rising movement garnered significant investor attention in light of the abovementioned partnership announcement. Simultaneously, the coin’s upswing also aligns with today’s broader crypto market trend.
Coinglass data indicated a 5% increase in the crypto’s futures OI to $84.47 million today. Further, even the derivatives volume rocketed 26% to $147 million, underscoring increased investor interest in the asset. Altogether, the digital asset has set off bullish waves with recent advancements.
Meanwhile, it’s also noteworthy that earlier this year, the crypto payments company unveiled its Web3 Digital Bank, following which ACH price shot up 10%. Crypto market enthusiasts continue to eye the token for future price shifts amid recent developments.
Coingape Staff
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