SINGAPORE, May 24, 2024
/PRNewswire/ -- We're thrilled to announce our integration with
Lido, the decentralized staking protocol enabling
users to earn daily staking rewards on their Ethereum,
where we proudly serve as the fiat On-Ramp provider. Through this
collaboration, Lido has integrated Alchemy Pay's efficient On and
Off-Ramp services within its ecosystem, allowing users worldwide to
easily purchase and sell $stETH using their preferred payment
methods and local fiat currencies.
As part of this collaboration, users can directly purchase
$stETH, the Lido's liquid variant of staked ETH, with
fiat on Alchemy Pay's ramp page. The $stETH balance grows daily
with staking rewards and plays a pivotal role in engaging in
DeFi activities such as providing liquidity on
protocols like Curve and serving as collateral for loans on
Aave.
Lido is the name of a family of open-source peer-to-system
software tools deployed and functioning on the
Ethereum, and Polygon blockchain networks. Lido
enables users to mint transferable staking tokens, which receive
rewards linked to the related validator activities of the
blockchain. The Lido protocols batch user tokens to stake with
validators and route the staking packages to network staking
contracts. Currently, the total staked tokens on Lido stand at
$29.7 billion.
Alchemy Pay's payment gateway now facilitates Visa and
Mastercard transactions in 173 countries, along with Apple Pay,
Google Pay, domestic transfers, and leading mobile wallets in
emerging markets, which ensures the global accessibility for Lido
users. With comprehensive support for over 300 local payment
channels, the gateway provides high conversion rates and minimal
fees for users seeking to acquire $stETH on Lido. This simplifies
the process of buying and selling crypto with domestic
currencies, making it as effortless as any other regular online
payment.
Significantly, Alchemy Pay has obtained numerous licenses
associated with payment services in various countries including the
UK, the United States,
Canada, Indonesia, and Lithuania. There are also additional licenses
currently being pursued in Hong
Kong and SIngapore.
Demonstrating its legitimacy in the traditional payments space,
Alchemy Pay has been recognized by Visa and Mastercard as an
authorized third-party service provider. Its commitment to adhering
to compliance and regulatory standards establishes it as a reliable
fiat-crypto payment gateway, facilitating smooth
transactions for both individual users and business partners.
About Lido
Lido is a decentralized staking protocol enabling
users to earn daily staking rewards on their Ethereum.
With Lido, users stake any amount of ETH and receive
stETH in return, representing their staked Ethereum
and accruing rewards over time. Take part in the
Ethereum revolution with Lido.
About Alchemy Pay
Founded in Singapore in 2017,
Alchemy Pay is a payment gateway that seamlessly connects
crypto with traditional fiat currencies for
businesses, developers, and end users. With its On & Off Ramp
solution, Crypto Card, Web3 Digital Bank, NFT
Checkout, and Crypto Payments, Alchemy Pay supports
payments in 173 countries.
The Ramp is a one-stop solution to buy and sell
crypto and fiat, easily integrated by platforms and
dApps according to requirements. The
Crypto Card solution empowers businesses and token
issuers to provide users with branded virtual and physical cards
for instant global spending. The Web3 Digital Bank offers an
innovative solution, allowing Web3 enterprises to open multi-fiat
accounts and facilitating instant conversion between fiat and
cryptocurrencies.
ACH is the Alchemy Pay network token on the
Ethereum blockchain.
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SOURCE Alchemy Pay