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MAP Protocol Partners Alchemy Pay for Fiat Payment Rails and On-Ramps

The leading fiat-crypto payment provider, Alchemy Pay (ACH), has announced its partnership with MAP Protocol, the multi-layered cross-chain operable blockchain for developers. MAP will integrate Alchemy Pay’s fiat payment channels and crypto on-ramps to enable users to participate in the MAP-hosted applications by using global fiat payment standards as well as popular local mobile wallets. MAP has also announced that it has joined the Blockchain Infrastructure Alliance which was founded last year by Alchemy Pay, Polygon, Avalanche, NEAR, and Algorand, among others.

MAP’s Eco Director, Vincent Cheng, said of the integration, “Alchemy Pay’s fiat payment channel and crypto on-ramps brings more mainstream accessibility to our network. This has benefits for all developers on MAP who can onboard new users to their applications more directly. We are also proud to be joining BIA and promote alongside the industry’s leading players.”

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MAP Protocol is a decentralized cross-chain interoperability protocol backed by a dedicated blockchain that safeguards cross-chain assets and empowers Dapps to achieve its full potential. MAP Protocol is more than just a bridge, but a truly decentralized cross-chain interoperability protocol. MAP Protocol empowers developers to build all kinds of cross-chain Defi applications on it which helps to solve the interoperability issue and achieve dynamic liquidity migration across the blockchain universe.

Alchemy Pay has become increasingly important in the blockchain space as a payment bridging service for the industry. Leading networks such as Elrond, Polygon, Algorand, NEAR, and Avalanche are integrating Alchemy Pay’s fiat payment channels. Alchemy Pay now has over 300 fiat payment channels that allow crypto services, DApps, and networks to onboard users with popular local and global mobile wallets as well as more traditional card and bank transfer payments.

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Alchemy Pay CEO, John Tan, said, “MAP is an exciting cross-chain project whose versatility and usability has attracted many developers. Our partnership with them will improve their access to users and increase the viability of developers building on MAP. This kind of easy accessibility breaks down one of the major barriers to entry for DApps and will drive mainstream adoption.”

In October last year, Alchemy Pay co-founded the Blockchain Infrastructure Alliance. The alliance brings together industry leaders, innovators, and investors to create cooperation across all areas of blockchain technology and collectively promote the development of decentralized finance and other initiatives. Its inclusion as a founding member will bring MAP together with other leading projects and further BIA’s aim to build a more unified and robust blockchain industry.

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[To share your insights with us, please write to sghosh@martechseries.com]

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