Conflux cooperates with Alchemy Pay, the encrypted payment gateway

On February 25, according to the official news, Conflux announced that it would cooperate with Alchemy Pay, the encryption payment gateway, to provide a simple payment solution in legal currency, enabling users to purchase cryptocurrency in local legal currency.

Interpretation of this information:

The announcement made on February 25 revealed that Conflux, a blockchain platform, has plans to collaborate with Alchemy Pay, an encryption payment gateway, to provide a payment solution in legal currency. This move aims to make it easy for users to purchase cryptocurrencies using their local legal currencies. The partnership could boost convenience and promote wider adoption of cryptocurrencies, especially in areas where regulatory purviews make trading cryptocurrencies difficult.

Conflux, founded in 2018, creates a decentralized blockchain platform for developing decentralized applications. It has gained significant popularity in the Asian region, especially China, where it has partnered with several firms to develop blockchain applications. Alchemy Pay, on the other hand, is a payment service provider that is partnered with several payment gateways such as PayPal, WeChat Payment, and Bitcoin Cash. The company’s goal is to break down payment barriers using blockchain and encryption technologies, enabling fast and secure transactions for its users.

The partnership could present a simple and localized payment solution that will allow users to buy cryptocurrencies using their local legal currencies. Alchemy Pay’s payment gateway enables transactions in more than 40 fiat currencies, including the USD, EUR, CNY, JPY, and the SGD. The integration of this gateway to the Conflux platform will give users access to a diverse range of currencies to make cryptocurrency purchases.

The partnership could foster greater adoption of cryptocurrencies, as the platform will likely make the buying and selling process more convenient, especially for users who may find it challenging to trade cryptocurrencies due to regulatory guidelines in their regions. The integration of legal currency payment solutions could also streamline the payment process, making it faster and more secure, thereby encouraging new users to explore the blockchain platform and its associated applications.

In conclusion, the partnership between Conflux and Alchemy Pay will likely promote the use of cryptocurrencies in areas with regulatory restrictions. The partnership commits to providing a simple solution that enables users to purchase cryptocurrencies using their local legal currencies. The transaction process is expected to be more secure and efficient, with access to a large number of fiat currencies expected to encourage new users to join the growing community of cryptocurrency traders.