Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Crypocurrency Exchanges News and Reviews
  • Crypto Trading
  • Cryptocurrency
  • News

Binance Announces Partner For Digital Payments Bridge

Alicia Maher August 5, 2021 2 min read

Crypto exchange, Binance, adds another feather to its cap with a recent collaboration between the exchange and hybrid payments solution, Alchemy Pay. Details of the announced collaboration reveal that the plan is to create a cross-functionality between Binance Pay and the latter, in order to reach more businesses globally. Alchemy Pay is a payment partner to reputable businesses like Shopify, Aldo and a host of others. 


trade now

Payment Chain Will Foster Crypto and Fiat Payments

According to the August 4 announcement, to achieve the cross functionality, both firms will create a payment chain to connect the Binance Pay wallet to Alchemy’s payment solution, which also supports hybrid transactions. Thus, when the integration is fully deployed, businesses and users around the globe will make and receive both crypto and fiat payments. 

On its part, Binance Pay functions as a boundless P2P cryptocurrency payments solution within Binance’s crypto application that also allows users to trade and exchange crypto assets. The Binance Pay solution allows users to make crypto payments anywhere in the world, and also receive cryptocurrencies from different regions. Interestingly, the Binance Pay solution supports over 40 crypto options for users and businesses alike.

Founded in 2018, Alchemy Pay prides itself as the one of the pioneers of the hybrid payments solution, which comprises crypto and fiat transactions. With this functionality, Alchemy Pay is able to bring many businesses on board. Private businesses like E-commerce giant, Shopify, QFPay, Pricerite, Ce La Vi have access to the firm’s payment solution. Although it already supports crypto and fiat transactions, Alchemy Pay’s collaboration with Binance will not only provide more payment options for businesses and users, but it will encourage the adoption of digital assets payments, thereby boosting their use cases. 

CEO John Tan States Vision of Alchemy Pay

While acknowledging the strategic collaboration, Alchemy Pay noted in a statement that the adoption of cryptocurrency and blockchain offerings is necessary for the development of the digital payments sector. John Tan, CEO of Alchemy Pay shared his thoughts on what the synergistic move represented.

Also, Tan added that the vision is to create a functional chain between fiat currencies and cryptocurrencies in terms of payments. He concluded by stating that when Alchemy Pay was launched, the value of the entire crypto market was below one-tenth of what it is worth currently, and digital payments were totally unrecognized.

Recently, Binance made some adjustments on its operations in line with its stated commitment to comply with regulatory sandboxes. Within May and July, Binance received lots of queries from regulators in different jurisdictions challenging the legality of their operations in those regions. 

However, the crypto exchange has resolved to cooperate with regulators in the wake of regulatory pressure. Also, Binance introduced a withdrawal limit for users that are yet to surpass basic verification processes on their accounts. Leverage for futures trading was reduced from 125x to 20x and Binance added a tax reporting tool on its platform.

Trade Now

Continue Reading

Previous: Currency.com Embraces Crypto Regulatory Policies
Next: Possible Consequences of The Ongoing Ethereum Hard Fork 

Related Stories

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,592.00
0.24%
ethereum
Ethereum (ETH)
$1,883.73
-3.48%
tether
Tether (USDT)
$1.00
-0.05%
usd-coin
USD Coin (USDC)
$1.00
-0.17%
binancecoin
BNB (BNB)
$314.71
-3.25%
ripple
XRP (XRP)
$0.397769
-1.13%
Binance USD
Binance USD (BUSD)
$1.00
-0.04%
cardano
Cardano (ADA)
$0.496763
-2.71%
dogecoin
Dogecoin (DOGE)
$0.080180
-3.76%
polkadot
Polkadot (DOT)
$9.40
-4.93%

Recent Posts

  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet
  • Litecoin To Be Delisted Out Of Major Crypto Exchanges

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
3 min read
  • Cryptocurrency Brokers News and Reviews

CharterPrime Review – Is CharterPrime Scam or a Proper Broker?

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%