PRESS RELEASE. The leading fiat-crypto payment solutions provider, Alchemy Pay (ACH) and the web3 app, STEPN (GMT), have announced a new collaboration. STEPN’s GMT token is now supported for use on Alchemy Pay’s hybrid fiat-crypto payment system that enables it to be spent at over 2 million merchant partners, online and offline, in more than 70 countries worldwide.
STEPN is a web3 lifestyle app with inbuilt Game-Fi and Social-Fi elements. Built around an essential daily activity of movement and exercise, STEPN is the first project to effectively bring to life a functioning ‘move & earn’ concept. Users equip themselves with NFTs in the form of running shoes. By walking, jogging, or running outdoors, users earn token and NFT rewards.
Alchemy Pay CEO, John Tan said, “We are focused on supporting the global adoption of innovative projects like STEPN that promote positive new possibilities for people around the world. By integrating their GMT token we are enabling holders and STEPN users to benefit from real-world spending.”
STEPN’s Chief Revenue Officer, Shiti Rastogi Manghani, said of the partnership: “We are delighted that Alchemy Pay is now giving our users the ability to spend their GMT tokens in multiple real-world situations. Now that our web3 app has this new dimension we expect to see major growth of our community and ecosystem.”
By becoming usable on Alchemy Pay’s fast-growing payment network, GMT can now be spent by users around the globe in a number of scenarios. This includes online and in-store payment scenarios.
See an example of GMT spending via Alchemy Pay’s payment system on Alchemy Pay’s YouTube channel:
Alchemy Pay’s hybrid crypto-fiat payment enables merchant partners to accept cryptocurrencies for offline and online payments at a low cost and with convenient conversion to local fiat currency. The all-in-one system also allows merchants and businesses to accept fiat payments via e-wallets and credit and debit cards so that they only require one system for all their needs. Alchemy Pay’s network is supported by its incentivising utility token, ACH, an ERC20 token issued on the Ethereum blockchain.
Over the past six months, Alchemy Pay has integrated a number of leading cryptocurrencies onto its global crypto-fiat network, including MATIC, TRX, AVAX, VET, and ALGO.
About Alchemy Pay
Founded in Singapore in 2018, Alchemy Pay (ACH) is a payment solutions provider that seamlessly connects fiat and crypto economies for global consumers, merchants, developers, and institutions. It provides online and offline merchants with convenient acceptance of both fiat and crypto, enables easy onboarding to blockchain ecosystems, and makes web3 services highly accessible. Today, Alchemy Pay is supported in over 70 countries with 300 payment channels, has touchpoints with more than 2 million merchants through partnerships with industry leaders such as Binance, Shopify, NIUM, and QFPay. Alchemy Pay’s token, ACH, is an ERC20 native to the Ethereum blockchain.
STEPN is a Web3 lifestyle application, with elements of SocialFi and GameFi, that rewards users with crypto for moving (walking, jogging, or running) outside. To participate, users have to download the STEPN app, purchase an NFT, and then move outdoors to earn tokens.
Since launching its public beta in December 2021, STEPN has skyrocketed in popularity and become a unicorn. User growth and engagement has also steadily increased, with total app downloads exceeding 2 million.
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