NEAR Integrates Alchemy Pay’s Hybrid Gateway, Joins the Blockchain Infrastructure Alliance

By NEAR Protocol on November 19, 2021

NEAR Integrates Alchemy Pay’s Hybrid Gateway, Joins the Blockchain Infrastructure Alliance

NEAR, the leading blockchain network has announced a strategic partnership with Alchemy Pay, the hybrid crypto-fiat payment gateway solution. Through this partnership, Alchemy Pay will enable easier access to NEAR Protocol by providing fiat on-ramps across 65 countries via Visa, Mastercard, PayPal and other local payment methods, including mobile wallets and bank transfers.

In addition to the payment rails, Alchemy Pay will be integrating the NEAR token onto its crypto-fiat payment solution to support acceptance of the token across Alchemy Pay’s global merchant network. This network includes the e-commerce leader Shopify, the global marketplace Arcadier, and Hong Kong’s leading chain Pricerite.

NEAR also announced it has joined the Blockchain Infrastructure Alliance co-founded by Alchemy Pay. The Alliance connects key entities in all sectors of the cryptocurrency and blockchain industries. Members will incubate new projects that seek to solve industry challenges and promote cooperation between networks, dApps, crypto exchanges, DEXs, wallets, stablecoins, fiat payment rails, merchant networks, and more.

The Alliance will benefit from NEAR Protocol’s extensive network and expertise. Its Proof-of-Stake consensus provides users with a decentralised form of finance while maintaining carbon neutrality. NEAR also supports a number of ecologically-focused projects building platforms and applications on its blockchain ecosystem.

Together, Alchemy Pay and NEAR have identified a number of projects that require nurturing in order to fulfil their potential. In response to this need, the partnership is initiating funds for investment to expand the ecosystem’s technology and community. Developer tooling and documentation, validator and staking resources, open-source libraries, public goods projects, research & development, decentralized applications with open source components, educational materials for developers, and interoperability solutions can all benefit from this initiative.

“NEAR is leading the way in ecologically sound blockchain development,” said Alchemy Pay CEO, John Tan. “Their vision for sustainability will influence the work of the Alliance we are building together, making it all the more positive for the industry at large.”

“Ultimately, blockchain solutions must be well integrated with the fiat currency economy,” said NEAR’s CEO, Eric Trautman. “Alchemy Pay is crucial in helping us get there.”

The application scenarios of Alchemy Pay are rich with possibility, and the number of NEAR mainnet accounts exceeded 1.5 million in November this year. The cooperation between NEAR Protocol and Alchemy Pay is a promising development for the blockchain industry.