Alchemy Pay Partners with Ethena Labs
In a significant move for the crypto space, Alchemy Pay has joined forces with Ethena Labs to streamline the purchasing process for two key assets: the synthetic stablecoin USDe and the native token ENA. Based in Singapore, Alchemy Pay is primarily known for facilitating fiat-to-crypto transactions. This new partnership enables transactions through widely used payment methods, including Visa and Mastercard, as well as digital wallets like Apple Pay and Google Pay.
Integration of Alchemy Pay into Ethena Swap
By integrating Alchemy Pay into the Ethena Swap portal, users now have the ability to purchase USDe and ENA directly using their local currencies. This integration supports over 50 fiat currencies and is accessible to individuals in more than 173 countries, effectively lowering the barriers that often accompany entry into the cryptocurrency market. It allows users to buy tokens without the complications of centralized exchanges or the need for wallet transfers.
Collaboration with Other Prominent Projects
This collaboration positions Ethena Labs among other prominent crypto projects that have adopted Alchemy Pay’s services. Notably:
In May 2022, Lido, a decentralized staking platform, began using Alchemy Pay’s solutions for transactions involving stETH, another significant crypto asset.
During the same period, the Ethereum Layer 2 solution Metis initiated a partnership with Alchemy Pay to enable local fiat currency purchases of its METIS token.
Expanding Reach in the Crypto Market
More recently, Alchemy Pay has expanded its reach by providing on-ramp support for the Hedera blockchain and its native cryptocurrency, HBAR, underscoring the growing demand for seamless entry points into the digital asset economy. With this partnership, Alchemy Pay and Ethena Labs are poised to make crypto assets more accessible to a broader audience, enhancing the overall user experience within the crypto ecosystem.
