Alchemy Pay secures $10 million in funding from DWF Labs for expansion into the Korean market

Alchemy Pay, the global cryptocurrency payment service provider, has announced a strategic partnership with DWF Labs, a multi-stage web3 investment firm, to expand its business into the Korean market. The partnership will provide Alchemy Pay with $10 million in funding to strengthen its payment services and assist Korean enterprises in achieving greater internationalization.

Alchemy Pay’s estimated valuation during the funding phase is $400 million. The company has established partnerships with Visa, Mastercard, Discover, Diners Club, Google Pay, Apple Pay, and over 300 local alternative payment channels worldwide. Its focus is to provide access to emerging markets and establish an extensive coverage area encompassing Europe, Northern and Latin America, and Southeast Asia.

In addition to its payment services, Alchemy Pay has introduced its innovative NFT Checkout service, which enables customers to acquire NFTs using fiat payment options, making the process as straightforward as any other standard online payment. With this function, users can easily purchase NFTs using their domestic local currencies.

Robert McCracken, the ecosystem lead of Alchemy Pay, stated that Korea presents a promising market for Alchemy Pay. By utilizing its payment solutions, more Korean companies can close the division between cryptocurrencies and conventional fiat currencies and keep pace with global economies.

Andrei Grachev, the Managing Partner at DWF Labs, expressed excitement at partnering with Alchemy Pay, saying that the strategic partnership would accelerate Alchemy Pay’s growth in Korea, providing more opportunities for businesses and consumers to embrace the benefits of digital assets and web3 technologies.

The partnership with DWF Labs will enable Alchemy Pay to expand its business into the Korean market and capitalize on the region’s high level of cryptocurrency acceptance. The funding received will strengthen the company’s payment services, enabling it to assist Korean enterprises in achieving greater internationalization. With its innovative payment solutions and commitment to bridging the gap between cryptocurrencies and traditional finance, Alchemy Pay is poised for further growth and expansion.

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