Singapore’s Alchemy Pay eyes crypto bank expansion
Singaporean blockchain payments operator Alchemy Pay plans to open a Web3 bank this year if it is approved for an Authorised Payment Institution license from United Kingdom authorities to conduct remittance, payment processing and managed account operations.
The firm said on March 7 that its upcoming Web3 bank accounts will support both enterprises and retail users and offer accounts in both euros and United States dollars. “Through our collaboration with banks, both conventional enterprises and Web3 firms can establish multi-currency accounts via Alchemy Pay. Real-time currency swaps are facilitated between EUR and USD, as well as between fiat and USDC/USDT,” Alchemy wrote.
Founded in Singapore in 2017, Alchemy currently supports fiat to crypto on-ramping and payment solutions in 173 countries. The firm allows users to purchase nonfungible tokens directly using their fiat payment methods and use their virtual or physical crypto cards for instant spending.
Alchemy Pay’s 2024 roadmap for its Web3 bank.
Milady NFT bull run
Anime avatar nonfungible tokens (NFT) collection Milady has doubled in floor price in recent days to $19,000 apiece. According to data from Blur, over 3,339 Ether worth of Milady NFTs were traded in the past few days. The increase comes in part due to promotion by Zhu Su, co-founder of bankrupt Singaporean hedge fund Three Arrows Capital (3AC), who tweeted on March 6:
“Yo what up milady fam! Had to sweep some miladys after hearing you have the best memes in web3! Is milady follow milady still a thing?! Anyways, hell yeah let’s see what this community’s all about! It’s moon time my degens aha WAGMI nft sistas.”
The price of the Milady NFT series has frequently been volatile due to promotions by various blockchain personalities and celebrities. On May 11, 2023, Milady memecoins surged by over 5,250% within 24 hours after American business magnate Elon Musk tweeted a meme using the…
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