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Singapore-based payment solution provider Alchemy Pay has launched its fiat-crypto on-ramp payment services on the popular web portal Bitcoin.com.Photo by Kanchanara on UnsplashNew local payment methodsAccording to a recent press release, the integration offers a direct-to-customer plugin, providing access to a diverse range of cryptocurrencies. The move aims to enhance Bitcoin.com's reach, particularly in Asian and Latin American markets, by incorporating new local payment methods. Bitcoin.com emphasized the significance of Alchemy Pay's integration, suggesting that it represented a streamlined transition between fiat and crypto with an expanded array of local payment options. This development aligns with Bitcoin.com's goal of meeting the needs of its user base in Asia and Latin America. Alchemy Pay's payment gateway facilitates transactions using major credit cards such as Visa, Mastercard, Discover and Diners Club across 173 countries. Additionally, the platform supports domestic transfers and mobile wallet payments in developing markets. Alchemy Pay attempts to make the know-your-customer (KYC) process frictionless, coupling that service offering with low fees and competitive conversion rates. The firm’s overriding mission is to make cryptocurrency transactions as convenient as typical online payments. Focusing on industry partnershipsAlchemy Pay has been pursuing industry collaborations at an ever increasing rate over the course of the past year. The network boasts over 300 fiat payment channels, enabling checkouts beyond card payments to include various local mobile wallet options. Last month, it clinched a deal with global payment processor, Worldpay. That collaboration facilitates Alchemy Pay service users in leveraging Worldpay’s extensive Visa and Mastercard payment rails. Back in July, it struck a similar deal with global payments processor, Checkout.com. The company has also been active in the United States. Within that market, it has secured money transmitter licenses in the states of Iowa and Arkansas. It’s understood that the firm has more such licensing applications in the works in other U.S. states. At the end of November, Alchemy partnered with self custody and multi-coin wallet project Trust Wallet, enabling the wallet providers 70 million users in engaging in crypto transactions involving fiat payments. VERSE tokenBitcoin.com's native Token VERSE was launched in December 2022, acting as the platform’s rewards and utility token. The VERSE token has been enabled as a supported cryptocurrency as part of the Alchemy Pay platform integration. The utility token serves as a method of payment in its own right within the Bitcoin.com ecosystem and beyond, unlocking rewards along different tiers, and providing access to exclusive platform services. Users worldwide can leverage the VERSE DEX, Bitcoin.com's decentralized exchange, to swap cryptocurrencies without reliance on third-party custodians. Bitcoin.com’s goal is to simplify the process of buying, spending, trading, investing, earning and staying informed about cryptocurrency and the future of finance. Millions of users utilize Bitcoin.com's multi-chain digital wallet app for various crypto-related activities.  Meanwhile, Alchemy Pay supports transactions in 173 countries. The ramp, a one-stop solution for buying and selling crypto and fiat, can be seamlessly integrated by platforms and dApps as needed. 

Coins.ph leads Digital Asset Exchange Alliance in Southeast AsiaCoins.ph, a leading Filipino cryptocurrency exchange, has taken a step towards promoting responsible and secure cryptocurrency usage in Southeast Asia through the establishment of the Digital Asset Exchange Alliance (DAEA).Photo by Mike L on UnsplashRegional industry partnershipIn a press release published on Friday, the company announced the formation of the industry body. The strategic partnership includes other prominent licensed exchanges in the region, namely Coinhako (Singapore), Indodax (Indonesia) and Bitkub (Thailand).Wei Zhou, CEO of Coins.ph, expressed enthusiasm about the collaborative effort, stating:“Coins.ph is excited to work with our Southeast Asian counterparts in advancing the responsible and secure use of cryptocurrencies and promoting the development of user-friendly and compliant products for users.”Zhou emphasized the belief that the alliance’s combined efforts would contribute to building a more robust and resilient cryptocurrency ecosystem in Southeast Asia.Unifying licensed exchangesThe DAEA represents a milestone in unifying licensed exchanges across the Southeast Asian region, aiming to enhance regulatory advocacy by leveraging the collective expertise and experience of the four founding exchanges. It seeks to foster collaboration by sharing protocols and best practices to elevate service quality and bolster security measures.Educating users about the benefits of trading on licensed exchanges and the importance of following regulatory guidelines is a core commitment of the Alliance. This extends to promoting financial literacy, consumer protection and responsible trading practices in the cryptocurrency space.The cryptocurrency sector has experienced an outsized proportion of scams and fraud. Within that, Southeast Asian crypto users and platforms have been hardest hit, with instances in recent months of malicious activity across the region, from pig butchering scams to exchange hacks and crypto-related phishing. Regulators have started to counteract such problems, but a level of greater organization within crypto through bodies like the DAEA will go some way further towards protecting crypto users.Building a safer ecosystemYusho Liu, CEO of Coinhako, highlighted the significance of the Alliance for the entire cryptocurrency industry, emphasizing the role of licensed exchanges in fostering trust and growth. He stated:“By collaborating with Coins.ph, Indodax, and Bitkub, we are taking a monumental step towards building a safer and more transparent ecosystem for users in the region.”As the blockchain space evolves with a growing emphasis on regulatory compliance, Coins.ph, along with Coinhako, Indodax and Bitkub, has distinguished itself by prioritizing security and trust through obtaining licenses from their respective regulatory bodies.Moving towards self-regulation2022 brought with it some spectacular crypto platform failures such as FTX, which affected locations like Singapore disproportionately. A regulatory backlash has resulted in 2023, and it is amid that backdrop that we are seeing increasing efforts towards better organization and self-regulation within the crypto sector.The formation of the Digital Asset eXchange Alliance in South Korea, involving a consortium of the top five exchange businesses in the country in July of this year, is a stand-out example. In Taiwan, regulators have been actively fostering self-regulation. Those efforts have resulted in the establishment of an industry group of Taiwanese Exchanges.

dtcpay forges strategic partnership in launch of crypto payments systemSingapore-based dtcpay has announced a collaboration with Singaporean data-sharing platform PlatON and Chinese payments firm Allinpay International, marking the imminent launch of a digital currency payments system.Photo by Jonathan Borba on PexelsPOS terminal crypto paymentsThe trio is set to unveil a cutting-edge digital currency payment system, leveraging smart point of sale (POS) terminals supporting a range of currencies, including USDT, ETH and BTC. The primary goal of this partnership is to broaden the reach of digital payments, providing global users with faster, more cost-efficient and secure payment experiences.The overarching objective of the collaboration is to empower partners and merchants to seamlessly accept payments in both fiat and digital currencies. By doing so, dtcpay, PlatON and Allinpay International aim to enhance operational efficiency, broaden business outreach and capture the attention of a younger customer base.Officials emphasize that this venture aligns with dtcpay’s commitment to delivering secure and efficient digital payment solutions while diversifying its service offering. A spokesperson for Tonghua International, Allinpay International’s parent company, stated:“We are very pleased to cooperate with industry leaders, PlatON and dtcpay. This cooperation will not only promote the development of digital currency payments but also help merchants better adapt to the modern payment trend and meet the needs of young consumers.”A collaboration that relies on core competenciesThe collaborative effort capitalizes on the strengths of each entity. dtcpay facilitates swift and secure digital and fiat currency exchange. PlatON contributes advanced privacy computing technology for robust technical infrastructure, while Allinpay International provides smart terminals and online aggregate payment interfaces, eliminating entry barriers relative to Web3 payments.In addition to driving advancements in digital currency payments, Allinpay International seeks to support merchants in adapting to modern payment trends and meeting the preferences of younger customers. dtcpay’s comprehensive suite of services includes multi-currency swaps, online checkouts and in-store POS solutions, positioning the company as a one-stop solution for merchants embracing the future of payments.Founded in 2019 in Singapore, dtcpay operates as a regulated payment service provider licensed by the Major Payment Institution (MPI) under the Monetary Authority of Singapore (MAS).The company struck up a similar partnership in September, bringing crypto payments to the POS system of Jeripay, which has a network of 8,000 terminals in Singapore. In an interview earlier this year, the firm’s CEO Kanny Lee outlined that dtcpay had targeted Hong Kong and Dubai as markets in which the company plans to expand.Sumsub partnershipThe collaboration’s momentum was further solidified at the end of September 2023 when dtcpay partnered with Sumsub, a global full-cycle verification platform. This partnership aimed to enhance the security and reliability of digital currency payments in target markets such as Singapore, Hong Kong, Dubai, the UK and Europe. Sumsub integrated its electronic Know Your Customer (e-KYC) service into dtcpay’s wallet platform, streamlining the onboarding process for customers engaging in transactions through the platform.PlatON is an open financial infrastructure that features verifiable and privacy-preserving computation. It will endeavor to bring financial-level system stability and compliant digital asset management to the collaboration. Allinpay is a global financial payment company focused on providing diverse payment solutions while enhancing digital financial technology services globally.