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Alchemy Pay invests in UK fintech LaPay

Thursday, March 28, 2024 — 12:23:20 (EDT)

SINGAPORE, March 28, 2024 /PRNewswire/ -- Alchemy Pay, the leading global Web3 payment solution provider, has revealed its investment in LaPay UK Ltd, a UK-based fintech dedicated to facilitating international business growth for companies.

Significantly, LaPay holds an Authorised Payment Institution (API) License in the UK with reference number 914920 and is regulated by the UK Financial Conduct Authority (FCA). The strategic investment marks the most recent milestone for Alchemy Pay, aligning with its aspirations to secure over 20 licenses globally in key regions such as the U.S., U.K., Hong Kong, Singapore, Australia, and South Korea.

Gibbs Lvy, Co-Founder of Alchemy Pay, reflected on the significance of this investment, stating, "LaPay is a fintech company regulated by the FCA, and this investment marks a crucial milestone in our global payment licensing strategy. Together, we aim to provide users with a comprehensive range of Web3 payment services, including local fiat currency money transfers, and foreign exchange in the future. Previously, we operated as a compliant Web3 payment solution provider on a global scale, but today, our investment in LaPay gives us increased reach and new opportunities in the UK and global market."

He emphasized, "Innovative fintech firms like LaPay are reshaping the dynamics between traditional banking, finance, payments, and Web3. Currently, established financial giants like PayPal, Visa, Revolut, and others are also venturing into Web3 fintech, marking the beginning of a transformative era in the global financial payments landscape, where payments, wallets, custody services, and stablecoins are gradually integrating into traditional banking, finance, and payment infrastructures."

Alchemy Pay is progressively constructing its comprehensive Web3 payment ecosystem through deep integration of licensing resources and global compliance credentials, expanding alternative payment methods (APMs) worldwide to enhance service capabilities, and introducing diverse payment products to cater to various scenarios. With its current collection of 6 regulatory licenses spanning 4 continents, by 2024, Alchemy Pay aims to apply and secure over 20 licenses, solidifying its extensive presence worldwide.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a Web3 payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off Ramp solution, NFT Checkout, 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 NFT Checkout enables direct purchases of NFTs using fiat payment methods.

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Source: Company press release.