Paysafe has announced a strategic partnership with Alchemy Pay, a prominent fiat-crypto payment solution provider.

The integration allows users across 130 countries to purchase crypto like Bitcoin (BTC) and Ethereum (ETH) using over 40 fiat currencies.

The collaboration aims to enhance Alchemy Pay’s offerings for crypto exchanges, Web3 companies, and other crypto businesses by integrating Paysafe’s payment products.

In the first phase of the partnership, Alchemy Pay has incorporated Paysafe’s Skrill and NETELLER digital wallets, along with various third-party local payment methods, into its Fiat On-ramp solution.

Paysafe’s open banking solution in the U.K. and 15 European countries enables direct bank account payments for crypto purchases.

Expansion details

This partnership significantly expands Alchemy Pay’s payment solution, offering more options and reducing transaction friction for crypto partners and their customers.

The integration of LPMs, which are highly recognized in specific markets, combined with Skrill and NETELLER’s global reach, aims to minimize abandoned transactions and enhance the payment experience.

Micah Kershner, SVP of Crypto & Digital Assets at Paysafe, highlighted Skrill and NETELLER’s large user base and popularity among crypto holders.

“We’re delighted to partner with Alchemy Pay, which like Paysafe has a global footprint,” said Kershner. “The Skrill and NETELLER wallets’ large user-base and popularity among crypto holders along with integration of local payment methods will power Alchemy Pay’s Fiat On-ramp with more payment options.”

The second phase of the partnership, which is expected to roll out later this year, will see Alchemy Pay integrating additional Paysafe payment options in other regions of the world.