Alchemy Pay Reveals Plans to Launch Layer-1 Blockchain

The first revelation that Alchemy Pay shared about its layer-1 (L1) blockchain is that users can pay gas fees with fiat or native ACH tokens.

Alchemy Chain's goal is to support Alchemy's growing payments business.

According to the announcement on X, Alchemy Chain will be built on the Solana Virtual Machine (SVM), allowing interaction between off-chain storage and blockchain transactions.

Alchemy Pay also plans to integrate layer 2 (L2) solutions for account mapping and data synchronization.

ACH tokens will be Alchemy Chain's utility tokens, so users can flexibly pay gas fees in fiat or $ACH conveniently and seamlessly. Including converting crypto or other on-chain income into fiat.

Alchemy Pay also commits to integrating a stablecoins revenue mechanism to create additional yield income for users. In particular, the company will support the memecoin project with a dedicated toolkit, including the meme launchpad and the Telegram meme bot.

On another front, on October 8, 2024, Alchemy partnered with Samsung Pay to update its virtual card service, a payment method and Web3 wallet backed by Samsung Electronics.

From there, users can spend digital assets with Samsung Pay. There will be a lot more customers for this service because Samsung owns a huge number of partners.