Singaporean fintech firm Alchemy Pay has secured a partnership with United Kingdom-based payment processor Worldpay.
According to the Dec. 19 announcement, the partnership will grant Alchemy Pay users access to Worldpay’s Visa and Mastercard payment rails for purchasing cryptocurrencies with their credit and debit cards.
“Alchemy Pay is now better positioned to assist our business partners and users in seamless cryptocurrency transactions worldwide,” said Alchemy ecosystem lead Robert McCracken.
Meanwhile, Nabil Manji, head of crypto and Web3 at Worldpay, commented: “Alchemy Pay’s mission to promote global adoption of digital assets by connecting fiat to the Web3 economy is aligned with Worldpay’s role in bridging the gap between traditional and digital finance.”
Founded in 2018, Alchemy is a fiat-to-crypto onboard processor supporting more than 50 fiat currencies through Google Pay, Apple Pay and various mobile wallets. On Nov. 30, Alchemy introduced fast payment solutions for the euro and the British pound, enabling transfers for crypto purchases to be processed in “seconds to a few minutes.”
On Nov. 23, Alchemy acquired a money service license in the U.S. state of Iowa, following the approval of a money service license in Arkansas in September.
In March, Fidelity National Information Services (FIS), the owner of Worldpay, announced plans to spin off its subsidiary following a $43 billion acquisition in 2019 that saw FIS take a writedown of $18 billion on the deal.
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Worldpay has been continuously integrating with Web3 technologies over the years. In July 2021, the firm partnered with Okcoin to provide infrastructure for the exchange’s fiat-to-crypto onboarding. In October 2022, digital asset custody platform Fireblocks launched a new payment engine for merchants with Checkout.com and Worldpay as pilot partners.