Alchemy Pay ($ACH) is leading the rally for Chinese coins, and analyzed data suggests it can go much higher throughout 2023. They are collaborating with the likes of Binance, Visa, MasterCard, and PayPal to provide crypto and fiat payment services for the world. In this article, we will explain what Alchemy Pay is, and why $ACH should be on your watch list this year.

What is Alchemy Pay?

Alchemy Pay provides real-world crypto payment solutions and fiat on/off ramps for global businesses, developers, and consumers. One of the key problems in the current blockchain payment landscape is the lack of integration between traditional financial systems and cryptocurrencies. Alchemy Pay aims to address this by incorporating a hybrid solution that (1) simplifies the use of crypto to access traditional financial services and (2) fiat currency to access blockchain services and value.

This will be huge for driving crypto adoption, as it is essentially a network system that allows cross platform payments. For example, users can use their credit cards to make payments in fiat currencies, which are then converted into crypto using Alchemy Pay’s payment gateway. This allows users to make purchases with their credit cards while benefiting from the advantages of cryptocurrency, such as faster and more secure transactions.

Payment Channels and Strategic Partners

Alchemy Pay already has a global reach of 173 countries and over 300 fiat payment channels including Visa, Mastercard, Apple Pay, Google Pay, regional mobile wallets, and domestic bank transfers. They also have a massive network of strategic partnerships with many major blockchain networks and services such as Polygon, Chainlink, Arbitrum, Coinbase, and Bybit.

The “China Coin” Narrative in 2023

A growing number of crypto experts on Twitter are predicting that there will be a surge in the value of “Chinese coins” in the near future. This is largely attributed to the easing of regulations in Hong Kong and the potential for quantitative easing in China. It has been observed that there is a correlation between massive injections of liquidity by the People’s Bank of China (PBoC) and an increase in the overall market cap of crypto.

Furthermore, the announcement of a new licensing regime for Virtual Asset Service Providers (VASP) in Hong Kong has generated public interest in Chinese cryptocurrencies, even though this licensing regime will not have a direct impact on retail buyers. However, it is important to note that both of these catalysts may not have as significant of an impact as anticipated. The actual size of the monetary easing is still uncertain, and the concept of a “Chinese coin” is not well-defined.

Despite these uncertainties, people are still interested in taking advantage of any potential mini-rally and actively searching for investment opportunities. $ACH still has a relatively small market cap, but with its strong connections and well established infrastructure, it is well-positioned to become a leading contender in the Chinese market this year.

$ACH Token and Price Prediction for 2023

$ACH is the utility token of Alchemy Pay, issued on the Ethereum blockchain as an ERC-20 token. Its primary use is for business partners of Alchemy Pay to pledge their $ACH as an intermediate setlement currency between token payment networks and as a medium for transaction fees. The token is required for every transaction, but businesses and merchants within the Alchemy Pay network receive $ACH incentives for accepting crypto as payment at their point of sale.

As of 20th February 2023, $ACH is gaining a lot of momentum, with a 142.1% increase over the past seven days. Although technical indicators show that $ACH is overbought, its long term 50 & 200 daily moving average crossover indicates a bullish trend. This suggests that $ACH is likely to continue its uptrend. The pump to $0.041 at the time of writing is in part attributed to news of Alchemy Pay partnering with Google Pay for on-ramp fiat/crypto purchases. As long as Alchemy Pay is expanding their infrastructure and building more connections, $ACH has potential to deliver strong returns for its investors throughout 2023.

Who is the Team behind Alchemy Pay?

In 2018, Molly Zheng and Shawn Shi established Alchemy Pay in Singapore. Both founders have extensive backgrounds in the financial sector. Zheng previously held the position of senior consultant at PayPal China, and also worked for HSBC China and Mastercard China. On the other hand, Shi is a former executive of numerous publicly listed companies in Asia and a partner of well known investment funds.

In 2021, Zheng was appointed Chairwoman of Alchemy Pay’s board, and was succeeded as CEO by John Tan, the COO of the company at the time. Tan was responsible for driving the growth of Alchemy Pay’s payment business by securing the company’s initial base of merchants networks across Asia. Their team now boasts over 80 members who have deep experience across the blockchain and payments industries.

The post Alchemy Pay ($ACH) 2023 Guide: Strongest Performing China Coin Narrative appeared first on Boxmining.

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Filed under: Bitcoin - @ February 20, 2023 10:28 am