May 14, 2022
  • May 14, 2022

The key role of FinTech in bridging the gap between Crypto and Fiat

By on November 7, 2021 0

Uniting Crypto and Fiat

Hybrid fintech platforms like Alchemy Pay, Sila, and Blockonomics have been developed with the aim of making cryptocurrencies and traditional fiat currencies work together.

For example, by leveraging solutions for online and offline merchants to aggregate crypto assets and fiat currencies without having to undergo major infrastructure upgrades, Alchemy Pay has the power to leverage more than 300 fiat and cryptocurrency gateways in 65 countries and regions.

The Singapore-based hybrid payment solutions provider recently launched its own virtual cards, which support more than 40 cryptocurrencies. Cards can be linked to digital wallets such as Google Play and PayPal, and can be accepted by millions of merchants on the Visa and Mastercard networks, including those of Amazon and eBay, removing more barriers to adoption.

These types of payment solutions have the potential to dramatically improve the global payments market by improving transaction speeds internationally, lowering the cost of transactions, and eliminating the need for intermediaries.

The development of fintechs that champion hybrid technology comes at a time when the broader fintech ecosystem is experiencing periods of significant growth. With the development of financial startups like Connectum, which focuses on one-click multi-currency payments through high-security artificial intelligence fraud monitoring systems. By connecting the world of crypto to fiat, Alchemy can blend blockchain technology with emerging fintechs to deliver more adaptive products.

Revolutionize spending

As more individuals and businesses turn to blockchain technology to leverage their financial transactions, it makes sense for businesses to promote and facilitate the use of crypto transparently and in conjunction with the laws. existing regulations to play their role in widespread adoption.

While the bridge between crypto and fiat is still vast, the foundation can be laid by stablecoins like Vemanti and Circle – both of which are SEC reporting companies. These asset-indexed tokens can help alleviate the reluctance of consumers, investors, and businesses to transact with crypto.

By taking these measured steps into the future, stablecoins can play their part in heralding a whole new global financial ecosystem that is built on frictionless, borderless and trustless digital payments – bringing with it new ways. which we may transact with each other and the companies we use.

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