Bitcoin Cash Acceptance Grows in Southeast Asia via Alchemy's PoS System

The payments and technology provider Alchemy recently announced the launch of the startup’s hybrid payment solution, a platform that aims to connect cryptocurrency with retailers worldwide. Alchemy’s crypto solution features integration with Qfpay, a well known third-party payment company that provides payment services for more than 1.2 million affiliated merchants. So far the starting point of Alchemy’s point-of-sale (PoS) solution has been implemented throughout Japan, Singapore, and Hong Kong.

Also read: Chinese Bitcoin Miners Migrate North After Wet Season

Alchemy’s Hybrid PoS Solution Allows for Crypto Payments in Regions Throughout Asia

There’s a new cryptocurrency PoS solution that hopes to cover a lot of retailers throughout Asia and Europe. Alchemy is a payment provider that allows people to pay with more than 30 digital assets including bitcoin cash (BCH). The company’s recently published announcement explains that the digital assets used for payments will be settled in local fiat in order to mitigate crypto volatility. Just recently, the @Bitcoincashcity Twitter account shared a video clip of someone making a purchase using BCH with the Alchemy PoS system.

According to Alchemy, the startup’s hybrid payment solution is currently available in Singapore, Japan, and Hong Kong alongside specific Midwest Global Asia and Pricerite locations. The announcement reveals that Alchemy has partnered with the payment company Qfpay which has 1.2 million affiliated merchants worldwide. Over the next few years, the firm says that it will extend to Thailand, Australia, New Zealand, Canada, France, Germany, Italy, Turkey, the UAE, South Korea, and the Philippines.

Bitcoin Cash Acceptance Grows in Southeast Asia via Alchemy’s PoS System

Cryptocurrencies Will Help Rebuild the Monetary and Financial Systems

Moreover, like the @Bitcoincashcity Twitter account’s tweet mentioned, Alchemy is attempting to make headway in the Middle East, specifically in Dubai. “Currently, businesses in most parts of Dubai are able to be paid by Qfpay’s POS or QR code,” Alchemy’s press release details. “Besides, the technology of Burj Khalifa’s ticket payment is also provided by Qfpay.”

“[This] is a game-changer for the global cryptocurrency market as it propels cryptocurrencies towards truly becoming a global currency. It creates real-life use cases for cryptocurrencies as crypto holders can now spend their cryptocurrencies to purchase goods and services in addition to their investment functions,” said Patrick Ngan, cofounder, and CEO of Alchemy. “We will continue to integrate new and popular cryptocurrencies such as Facebook’s Libra to drive usage and liquidity for cryptocurrencies.”

The startup says the company’s main objective is to focus on helping countries in need of payment services that leverage cryptocurrencies. Alchemy believes digital currencies can improve economic development and social welfare worldwide. “In addition to the emphasis on the vast market of cryptocurrency, using cryptocurrency as payment is also an important solution for rebuilding the monetary and financial systems of many countries and realizing the upgrading of national industries and financial services,” Alchemy insists. The payments and technology provider’s merchant integration announcement concluded by adding:

The financial revolution caused by cryptocurrency has opened many countries’ doors and accelerated the application deployment of cryptocurrency.

What do you think about Alchemy’s PoS solution allowing people to pay with cryptocurrencies like bitcoin cash (BCH) in Hong Kong, Japan, and Singapore? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Image credits: Shutterstock, Alchemy, Twitter, and Pixabay.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

Tags in this story
@Bitcoincashcity, 30 coins, Alchemy, Alchemy AHS, Alchemy PoS, BCH, bitcoin cash, Burj Khalifa, Cryptocurrencies, Digital Currencies, Dubai, Dubai Mall, Financial Systems, Hong Kong, Hybrid Payment Solution, Japan, Midwest Global Asia, Payment Provider, Pricerite, Qfpay, Singapore
Bitcoin Cash Acceptance Grows in Southeast Asia via Alchemy’s PoS System 1
Jamie Redman

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for about the disruptive protocols emerging today.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Cryptosoft Trading Bot Review
June 27, 2022
The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin20,732 0.23 % 2.62 % 1.05 %
Ethereum1,187.0 0.33 % 2.92 % 5.44 %
Tether1.001 0.03 % 0.03 % 0.04 %
USD Coin1.000 0.09 % 0.12 % 0.30 %
BNB233.74 0.23 % 1.78 % 8.83 %
Binance USD1.001 0.17 % 0.11 % 0.10 %
XRP0.3531 0.23 % 3.01 % 8.43 %
Cardano0.4849 0.84 % 3.95 % 0.22 %
Solana38.44 0.58 % 4.66 % 12.41 %
Dogecoin0.07221 0.85 % 2.21 % 19.25 %

Bitcoin (BTC) $ 20,777.00
Ethereum (ETH) $ 1,191.31
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 234.85
Binance USD (BUSD) $ 1.00
XRP (XRP) $ 0.353913
Cardano (ADA) $ 0.48855
Solana (SOL) $ 38.76
Dogecoin (DOGE) $ 0.072422