Here is the rewritten content:
Alchemy Pay Teams Up With Yellow Card to Offer Fiat-Crypto On-Ramp Services in Africa
Globally renowned fiat-crypto payment gateway Alchemy Pay has made a significant stride by partnering with pan-African fintech firm Yellow Card. The crypto payment gateway, Alchemy Pay, has recently announced its collaboration with Yellow Card to facilitate on-ramp services in Africa. In light of this partnership, the crypto project’s native coin, ACH’s price has seen a rise of nearly 1%, sparking global discussions.
Partnership Details
According to an official press release by Alchemy Pay dated October 15, the collaboration with Yellow Card aims to bring on-ramp services (conversion of traditional currency into cryptocurrency) to Africa. By leveraging Yellow Card’s unique payment infrastructure, ranging from bank transfers to mobile money options, the entities aim to cater to the growing Web3 market nationwide.
Target Countries
The partnership targets countries such as Botswana, Cameroon, Rwanda, South Africa, Uganda, and Zambia, enabling individuals to purchase crypto and access the benefits of decentralized finance via local currencies such as BWP, XAF, RWF, ZAR, UGX, and ZMW.
Quotes from Key Individuals
Robert McCracken, Ecosystem Lead at Alchemy Pay, stated, "Yellow Card has established itself at the cutting edge of digital payments across Africa. With their support for local payment rails, Alchemy Pay is able to quickly extend its on-ramp coverage to serve millions of new users in these regions."
Gillian Darko, Chief of Staff and Director of Strategy at Yellow Card, emphasized that the partnership is met with immense excitement, "as it reinforces our commitment to accelerating financial growth across the continent. By leveraging our extensive payment infrastructure, we are opening more doors for seamless access to stablecoins and decentralized finance in Africa."
ACH Price Movement
ACH price has seen a surge of nearly 0.5% at press time and is currently trading at $0.01976. The coin’s intraday low and high were recorded as $0.0195 and $0.02042, respectively. Alchemy Pay’s rising movement has garnered significant investor attention in light of the aforementioned partnership announcement. Additionally, the coin’s upswing aligns with today’s broader crypto market trend.
Further Insights
Coinglass data indicates a 5% increase in the crypto’s futures OI to $84.47 million today. Furthermore, the derivatives volume has rocketed 26% to $147 million, underscoring increased investor interest in the asset. Altogether, the digital asset has set off bullish waves with recent advancements.
Conclusion
The partnership between Alchemy Pay and Yellow Card marks a significant milestone in the democratization of financial services in Africa. The collaboration paves the way for millions of new users to access the benefits of decentralized finance, sparking increased interest in ACH. As the crypto market continues to evolve, this development is likely to have far-reaching implications for the global digital asset landscape.
FAQs
Q: What is the significance of the partnership between Alchemy Pay and Yellow Card?
A: The partnership enables Alchemy Pay to extend its on-ramp services to Africa, leveraging Yellow Card’s payment infrastructure, including bank transfers and mobile money options.
Q: Which countries are targeted by the partnership?
A: The partnership targets countries such as Botswana, Cameroon, Rwanda, South Africa, Uganda, and Zambia.
Q: How will this partnership impact the crypto market?
A: The partnership is likely to increase interest in ACH, with the coin’s price seeing a surge of nearly 0.5% at press time. This development may also contribute to a broader bullish trend in the crypto market.
Q: What are the potential benefits of this partnership for investors?
A: The partnership may offer investors a chance to access the benefits of decentralized finance, including increased liquidity and flexibility, as well as potential price appreciation.
