Singapore-based payment provider Alchemy Pay has secured a significant $10 million investment from market maker DWF Lab to expand its operations in South Korea. The investment comes at a valuation of $400 million, showcasing the company’s potential in capitalizing on the nation’s high-level crypto adoption.
Rapid Growth for Alchemy Pay in the Crypto Space
Having previously collaborated with industry giants like Visa, Mastercard, Google Pay, and Apple Pay, Alchemy Pay continues to make waves in the payment processing sector. Recently, crypto exchange OKX announced its integration with Alchemy Pay, allowing customers to purchase cryptocurrencies using local currencies with ease.
Notable Collaborations and Partnerships
Earlier this year, Alchemy Pay formed a strategic partnership with an Indonesian fintech company to facilitate low-cost money transfers. In addition, the company has collaborated with Binance Pay to introduce charger rental machines that accept payments at Burger King branches in Paris.
DWF Labs Increases Investments in Crypto and Web3 Projects
DWF Labs remains committed to investing in promising crypto and web3 projects, with its $10 million investment in Alchemy Pay marking its eighth investment in just two months. The total value of these investments has reached an impressive $165 million.
In conclusion, the substantial investment from DWF Labs reinforces Alchemy Pay’s position in the competitive payment processing landscape, promising to drive further growth and innovation in the rapidly evolving world of crypto and digital payments.