Southeast Asia’s Bitcoin Cash Acceptance Has Grown with Alchemy’s PoS System
Payment and technology service provider Alchemy has just announced the launch of Hybrid Startup’s payment process, a platform that aims to connect cryptocurrencies. (Cryptocurrency) with retailers worldwide Alchemy’s cryptocurrency processes are integrated with Qfpay, a well-known third-party payment company which provides payment services for more than 1.2 million affiliated stores. Alchemy’s Point of Sale (PoS) has been used throughout Japan, Singapore, and Hong Kong.
There is a new crypto process PoS that hopes to cover many retailers across Asia and Europe. Alchemy is a payment service provider that allows users to pay with more than 30 digital assets including Bitcoin Cash (BCH) as announced. The company explained that the digital assets used for payment will be settled in a local order to reduce crypto fluctuations. Not long ago, a Twitter account named @Bitcoincashcity Shared a video clip of someone who bought a product using BCH with the Alchemy PoS system.
According to Alchemy, the hybrid payment process will be available in Singapore, Japan, and Hong Kong alongside Midwest Global Asia and the location of Pricerite. According to the announcement, Alchemy has partnered with payment companies Qfpay, which has more than 1.2 million affiliates in the world. In the next few years, the company said it will expand to Thailand, Australia, New Zealand, Canada, France, Germany, Italy, Turkey, United Arab Emirates, South Korea, and the Philippines.
Moreover, Twitter user @Bitcoincashcity said Alchemy is trying to make progress in the Middle East, especially in Dubai. In Dubai, most can pay with POS or Qfpay QR codes According to Alchemy ‘s press release, “Besides, the technology of Burj Khalifa’s ticket payment is also provided by Qfpay.”
“[This] is a game-changer for the global cryptocurrency market as it propels cryptocurrencies towards truly becoming a global currency. It creates real-life use cases for cryptocurrencies as crypto holders can now spend their cryptocurrencies to purchase goods and services in addition to their investment functions,” said Patrick Ngan, cofounder, and CEO of Alchemy. “We will continue to integrate new and popular cryptocurrencies such as Facebook’s Libra to drive usage and liquidity for cryptocurrencies.”
The startup says the company’s primary objective is to focus on helping countries that need payment services that take advantage of cryptocurrencies. Alchemy believes that digital currency can improve economic development and social welfare throughout the world.
“In addition to the emphasis on the vast market of cryptocurrency, using cryptocurrency as payment is also an important solution for rebuilding the monetary and financial systems of many countries and realizing the upgrading of national industries and financial services.”
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