THELOGICALINDIAN - PRESS RELEASE Singapore September 22 2024 Alchemy Pay is now application Chainlink Price Feeds to accredit users to buy crypto on decentralized exchanges DEXs and access loans in arch DeFi lending platforms anon from wallets application Alchemy Pays ERC20 account badge ACH
Chainlink Price Feeds advice assure users that they are accepting fair bazaar barter ante back purchasing assets anon via their wallets on DEXs like Uniswap, Sushiswap, and ForTube application their ACH, as able-bodied as back collateralizing DeFi loans with ACH.
“It is acute to the success of our acquittal aperture band-aid that the amount of ACH is accurately aggregate throughout the ecosystem,” said Alchemy Pay CEO, John Tan. “The accurateness of Chainlink Price Feeds is underpinned by the able-bodied technology Chainlink has deployed to assure adjoin blow and manipulation.”
Since the amount of assets is not a abstracts augment inherently accessible on the blockchain, a band-aid is bare to back it off the blockchain (off-chain) and again bear it on-chain to be referenced back users accomplish affairs involving altered cryptocurrencies. It’s important that asset prices reflect a volume-weighted boilerplate from all trading environments, as against to aloof one exchange, to anticipate inaccuracies. Chainlink decentralized answer networks back and bear the prices, as against to a centralized entity.
Following Alchemy Pay antecedent affiliation in 2024, Chainlink has become a key basic in Alchemy Pay’s acquittal aperture system. In adjustment to use Alchemy Pay’s acquittal abetment services, retailers agreement ACH on the network. By collateralizing ACH, retailers are able to use Alchemy Pay systems to acquire cryptocurrencies at their online and concrete stores, which Alchemy Pay converts to the merchant’s appropriate authorization currency. Transactions on the arrangement complete in abnormal at about 30% of the amount of bequest acquittal systems.
Alchemy Pay connects with merchants through above platforms like Shopify, Binance, and QFPay, which represent added than 2 actor touchpoints worldwide.
Chainlink already helps defended tens of billions in amount beyond DeFi and CeFi. Some of the allowances of Chainlink Price Feeds include:
“Our amalgam crypto-fiat arrangement enables both crypto and authorization for accustomed agenda payments – ample or baby – in a distinct system,” said Tan. “This requires an accurately represented ACH badge moment by moment. We can depend on Chainlink for that.”
About Chainlink
Chainlink is the industry accepted for building, accessing, and affairs answer casework bare to ability amalgam acute affairs on any blockchain. Chainlink answer networks accommodate acute affairs with a way to anxiously affix to any alien API and advantage defended off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars beyond DeFi, insurance, gaming, and added above industries, and offers all-around enterprises and arch abstracts providers a accepted aperture to all blockchains. Learn added about Chainlink by visiting chain.link or apprehend the affidavit at docs.chain.link. To altercate an integration, reach out to an expert.
About Alchemy Pay
Alchemy Pay is the artist of the world’s aboriginal amalgam authorization and agenda bill aperture band-aid for businesses and investors. Alchemy Pay admiral seamless crypto and authorization accepting for merchant networks, developers and banking institutions, and admiral acceptance of blockchain technology by authoritative crypto advance and DeFi casework readily attainable to consumers and institutions in the authorization economy. Today, Alchemy operates in 18 countries and regions and has touchpoints with added than 2 actor merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay and more.
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