Plan to Dramatically Expand Institutional Partners & B2C Portfolio
Singapore, July 29, 2021 -
Alchemy Pay, Singapore based pioneer of the world's first payment gateway solution to bridge the gap between fiat and crypto economies, has announced the appointment of Molly Zheng to Alchemy Pay’s board as Chairwoman. Succeeding Zheng to lead the company as CEO is John Tan, who was previously COO of the company.
Tan originally joined Alchemy Pay in a business development role, and drove the growth of Alchemy Pay’s payment business by securing Alchemy's initial base of merchant networks, including clients such as Hong Kong's Pricerite, Singapore's Ce La Vi, Canadian footwear brand Aldo, multinational Arcadier SaaS, and Midwest Global Asia taxi services with its network of more than 2500 limousine drivers.
As COO, John expanded Alchemy Pay's global presence and drove crypto adoption in the payments, investment, and DeFi sectors through partnerships with industry leaders such as Shopify, Binance, and Huobi, dramatically expanding Alchemy Pay’s potential touchpoints with millions of customers.
“John did a fantastic job expanding our business internationally,” said Alchemy Pay’s former CEO and newly appointed Chairwoman, Molly Zheng. “He played a critical role in Alchemy Pay’s blockchain adoption mission, building out a solid customer base for Alchemy Pay’s blockchain and DeFi services ecosystem that is easily accessible to those outside the cryptosphere, including direct onramps to crypto investment with fiat.”
The Alchemy Pay ecosystem is underpinned by the ACH token, a supply-capped, smart contractible ERC-20 utility token that is required to access the ecosystem’s services and benefits. ACH tokens are staked, deposited, rewarded, paid as fees, and accumulated to drive and incentivize all of the ecosystem’s functions, such as crypto payments and investments, and directly connecting blockchain and DeFi solutions to the fiat world.
“I’m so proud to have been part of Molly’s team in the pursuit of realizing Alchemy's vision to bridge the disjointed crypto and fiat global economies,” said Tan. “It has been an inspiration to have Molly’s experience and deep insight into the concepts, potential, and opportunities for our hybrid crypto-fiat payment gateway, and it’s an honor to succeed her as CEO and continue working with her in her role as Chairwoman.”
Zheng has over 20 years’ experience in the payment processing industry, including serving as Senior Consultant at Paypal China, SVP at HSBC China, Director of GE Money, and Chief Representative of MasterCard China.
Alchemy’s ecosystem is expanding by geography and by segment, with announcements planned in the near term for partnerships with financial institutions in North America, Europe and Middle East. These partners will deploy Alchemy Pay solutions to launch crypto investment services for retail investors and high network clients. In addition, Alchemy Pay will soon launch a Visa debit card, which will be available via the company’s native wallet application.
“We’ll have exciting announcements about new ventures and partners soon,” said Tan. “And we plan to debut our ACH Visa card to allow crypto holders to spend their crypto anywhere in the world that VISA is accepted, including great travel perks and 8% back in spending rewards.”
About Alchemy Pay
Alchemy Pay pioneered the world's first hybrid crypto-fiat gateway solution to bridge the gap between fiat and crypto economies. We power crypto payments and investments for businesses and consumers, and facilitate access to blockchain and DeFi solutions directly with fiat. We are striving for global acceptance of crypto payments and a world of fully integrated crypto-fiat transaction technologies.
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