Earlier, the firm started processing fiat payments for the Stellar blockchain

Alchemy Pay adds SEPA support for buying cryptocurrencies in Europe

30.11.2023 - 15:30


1 min

What’s new? Alchemy Pay, a crypto payment company, has expanded its cryptocurrency purchase options in the EU and the UK by adding support for the European payment system SEPA. Users from 30 countries in Europe and the UK who have completed the KYC process will now be able to make transfers using SEPA for amounts from 1 EUR to 5000 EUR or 5000 British pounds.

Press release

What else is known? Alchemy Pay was founded in Singapore in 2017 and is licensed in Canada, Indonesia, and Lithuania, as well as the US states of Iowa and Arkansas. It supports over 300 fiat payment channels in 173 countries, including BLIK, Bancontact, and Skrill, various mobile wallets, and domestic wire transfers.

Earlier this month, Alchemy Pay integrated into the Stellar blockchain ecosystem as a fiat deposit and withdrawal processing provider. Thus, users of Stellar-based apps can now buy native tokens XLM and USDC stablecoins using fiat currencies.

In September, Paysafe stopped processing for Binance under SEPA, terminating the contract unilaterally, in connection with which the exchange suspended the deposit and withdrawal of funds in Euro. In October, the exchange announced that it had found new partners for making payments in euros, without specifying the names of the companies.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy