Sei Network’s $SEI has integrated with the fiat on-ramp solution of Alchemy Pay. This means that Sei Network now has access to the convenient onboarding process, which is likely to help the team make the SEI purchase phase seamless. Users will be able to purchase the token through a fiat payment method of their choice.
The development adds to the credit of Alchemy Pay, as the platform has once again managed to bridge the gap between mainstream finance and cryptocurrencies. Needless to say, it has done so before to facilitate its partners’ Web3 and crypto services. Alchemy Pay’s objective is always to obtain a license and follow stringent regulatory compliance as a part of its proactive approach to expansion.
It is backed by Mastercard and Visa, cementing its status as a third-party payment service provider. Its operations cover 173 countries, and payment methods include Google Pay, Mastercard, Visa, and other local wallet providers. This is achieved only on the grounds of high compatibility.
Sei Network is one of the most ideal partners Alchemy Pay could look for. The reason is that Sei is the fastest blockchain when it comes to the concept of a layer-1 solution for trading purposes. It has, so far, helped many industries deploy their projects for an enhanced experience. Those who have leveraged the capabilities are DeFi, Gaming, and NFTs, among others. Its team members have previously held reputed positions at companies like Nvidia, Google, Robinhood, and Goldman Sachs.
Sei has also raised $30 million from Flow Traders, Coinbase, Jump, Multicoin, and Hudson River Trading, to mention a few investors who participated in the investment round.
Jeff Feng, the co-founder of Sei Network, has said that joining hands with Alchemy Pay will benefit them immensely. This has been said in terms of connecting with fiat currencies for all the members of the ecosystem—developers, users, and businesses. It also gives them a chance to improve the scalability of decentralized applications.
The SEI token was last seen trading at $0.1171, a slippage of 2.84% in the last 24 hours. The development between Alchemy Pay and Sei Network is recent, and hence, there is a chance that the token will gain momentum later. Trading volume is somewhere around $32.56 million. The volume is rather higher than the trading price as of early last evening. The token was exchanging hands at $0.1222 but had a volume of $21.98 million.
Alchemy Pay, also referred to as ACH, is a payment solution provider that has helped many crypto ventures offer a bridge from fiat to crypto to their customers. Beneficiaries also include institutions, developers, and merchants. The ultimate goal is to guide partners through onboarding and on-ramp activities.
$SEI has been integrated into Alchemy Pay under a partnership with Sei Network. Users are likely to benefit in the coming days.