MakerDao’s DAI and Hybrid Fiat-Crypto Network Alchemy Pay’s Contract Allows Instant Payments in Real-World Currencies

2 min read

makerdao dai

Dai is a crypto-currency that has been created by the MakerDAO team and was launched on July 4th, 2017. One of Dai’s main features is its decentralized nature which means it can be exchanged for anything else in the world without needing an intermediary. Dai has a contract with the network from Alchemy Pay which allows instant payments in real-world currencies almost immediately.

A leading provider of fiat-crypto payment solutions, Alchemy Pay, has announced a new partnership with MakerDAO. Alchemy Pay, a hybrid fiat-crypto network that handles cryptocurrency payments in over 70 countries, now supports MakerDAO’s dollar-pegged stablecoin, Dai.

People across the globe can resist hyperinflation with Dai, a decentralized and collateral-backed cryptocurrency. The MakerDAO system aims to improve financial and monetary structures and serve the public good in a transparent and highly efficient way. Maker’s protocol operates on Ethereum’s blockchain, so Dais minted within its system offer economic freedom and opportunity to anyone, anywhere. 

The CEO of Alchemy Pay, John Tan, stated, “We are focused on promoting positive new financial opportunities around the world through the adoption of open source projects such as MakerDAO.”. DAI integration enables users to enjoy censorship-resistant finance without experiencing the volatility of cryptocurrencies.”.

Dai can now be spent around the globe on Alchemy Pay’s fast-growing payment network by users in a variety of real-world situations. It includes both online and offline payment scenarios, as well as business-to-business and customer-to-business transactions.

Alchemy Pay’s hybrid crypto-fiat payment enables merchant partners to accept popular cryptocurrencies in offline and online payments at a low cost and with near-instant Fiat currency conversion to local currency. Merchants and businesses can accept fiat payments via e-wallets and credit cards with the all-in-one system. A utility token, ACH, underpins the network, which has been recently listed on the world’s largest cryptocurrency exchange, Binance, as an ERC-20 token.

Since starting its global crypto-fiat network in early 2017, Alchemy Pay has integrated several leading cryptocurrencies, including Polygon ( MATIC), Tron (TRX), Avalanche ( AVAX), and Algorand (ALGO). Avalanche recently joined forces with Avalanche, Near, and Polygon to form the Blockchain Infrastructure Alliance. This alliance brings together industry leaders, innovators, and investors by creating synergies across all facets of blockchain technology. It funds and nurtures new projects, while promoting decentralized financing.

About Alchemy Pay

Alchemy Pay is a provider of integrated fiat and cryptocurrency gateway solutions. With its solutions, merchant networks, developers, and financial institutions can accept crypto and fiat seamlessly. By enabling crypto investments, commercial transactions, and decentralized finance services in the fiat economy, the company drives blockchain adoption. Alchemy Pay supports over 70 countries with more than 300 payment channels, and it has touchpoints with more than 2 million merchants through partnerships with industry giants like Binance, Shopify, Arcadier, QFPay, and more. 



About MakerDAO

The Maker protocol is a decentralized open-source protocol on the Ethereum blockchain, which is managed by MakerDAO, a decentralized autonomous organization that was established in 2014. The Maker protocol enables users to generate the Dai token in the Maker ecosystem. People who hold MKR, the DAO’s governance token, make decisions about protocol changes and implementations within the DAO. To ensure Dai’s stability, transparency and efficiency, MKR holders use a scientific governance system involving executive voting and governance polling. The voting weight of each MKR in the voting contract is proportional to the stake a voter holds.

Via this site.


Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.