- Alchemy Pay partners with Ripple to enable RLUSD access in 173 countries via 300+ payment methods.
- RLUSD is fully backed by U.S. dollars, offering a secure and compliant digital dollar solution.
- Alchemy Pay experiences significant growth, processing 8M transactions and gaining 3M users in 2024.
The payment solutions provider Alchemy Pay has partnered with Ripple to provide a seamless fiat-to-crypto on-ramp for Ripple USD (RLUSD). RLUSD is the stablecoin fully backed by U.S. dollars.
The collaboration will allow users in more than 173 countries to purchase RLUSD. They can use over 300 local payment methods, including Visa, Mastercard, Apple Pay, and various regional mobile wallets and bank transfers.
RLUSD: Ripple’s Regulated Stablecoin
RLUSD is issued by Ripple’s subsidiary, the Standard Custody & Trust Company, LLC. The stablecoin is fully backed 1:1 by U.S. dollars and equivalent cash reserves. It is designed to provide a reliable digital dollar solution that meets high compliance and regulatory standards.
Ripple’s established presence in the financial sector and its expertise in regulatory matters are major factors driving RLUSD’s adoption. The stablecoin positions itself as a bridge between traditional finance and blockchain technology, offering a secure and liquid alternative to fiat currency while maintaining compliance with global regulations.
Alchemy Pay Integration Expands Global Access for RLUSD
As reported, through this partnership, Alchemy Pay has integrated RLUSD into its global payment network, which will support a wide range of local payment methods. This move lowers barriers for both individual and institutional users looking to access stablecoins. Alchemy Pay’s network, which includes over 300 payment channels, has been key in enabling fiat-to-crypto transactions and expanding the global reach of digital currencies.
Related: Algorand Integrates Alchemy Pay: Seamless Fiat-Crypto Gateway in 173 Countries
Moreover, the collaboration is part of Ripple’s broader strategy to provide real-world blockchain solutions to businesses and financial institutions. The partnership is expected to further boost the use of RLUSD as a viable stablecoin for cross-border transactions and other enterprise-grade applications.
Related: Alchemy Pay Integrates Chiliz Chain, Bringing Fiat Payments to Fan Tokens
As a result of this innovation, Alchemy Pay recorded massive growth in 2024, with more than 3 million users and 8 million transactions throughout the year, a triple difference from last year.
The firm has received regulatory approvals in key markets such as the U.S., U.K., Canada, and South Korea. This integration with RLUSD will further enable Alchemy Pay to contribute to simplifying the use of digital assets among users across the world.
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