- Alchemy Pay partnered with DWF Labs to expand its operations in South Korea.
- The payment firm’s overall funding valuation is $400 million.
Alchemy Pay, the Singapore-based payment gateway, has partnered with DWF Labs to expand its operations in South Korea. DWF Labs, a Web3 investment firm, has provided $10 million in funding to the payment gateway.
We are excited to partner with DWF Labs, the prominent multi-stage web3 investment firm to secure $10 million funding at a valuation of $400M in this round. This strategic partnership
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) April 3, 2023
aims for #AlchemyPay’s expansion into the Korean market.
Learn more: https://t.co/XrgvRNBj3S
The payment firm’s overall funding valuation is $400 million. Over the years, Alchemy has put forward many steps to grow its presence internationally. It is in partnership with national and regional mobile payment platforms around the globe.
Robert McCracken, the ecosystem lead of Alchemy Pay states:
“The company is currently well-funded, and we accepted the investment for strategic purposes, specifically to aid Alchemy Pay in entering the Korean market and expanding its payment services in the region.”
Alchemy Pay’s March Round-Up
As per the press release by the payment firm, there are been various collaborations and expansions in the month of march. And one such recent event is the integration with OKX, users will be able to buy crypto via any local currency in the list of OKX fiats.
Along with that, the ZD Group’s partnership has provided Alchemy Pay with four Hong Kong licenses. These licenses by the Securities and Futures Commission (SFC) and Insurance Authority (IA) are essential to perform any financial activities in the country.
Apart from the regional expansions, the payment gateway has also expanded its team. A new addition to the advisory board also took place with David Plouffe and Andy Ng joining.
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