Alchemy Pay, a leading payment gateway, has announced a strategic collaboration with Lido, the decentralized staking protocol. This partnership aims to bridge traditional finance with the decentralized finance (DeFi) sector by providing a fiat on-ramp for Lido’s stETH token.
By integrating Alchemy Pay’s efficient on and off-ramp services within Lido’s ecosystem, users from around the world can now easily purchase and sell stETH using their preferred payment methods and local fiat currencies. This integration enhances the overall user experience and enables seamless transactions, making stETH more accessible.
StETH is the liquid variant of staked ETH, which accumulates daily staking rewards. This integration plays a crucial role in promoting the use of stETH in various DeFi activities, such as providing liquidity on protocols like Curve and serving as collateral for loans on Aave.
To ensure global accessibility for Lido users, Alchemy Pay’s payment gateway supports a wide array of payment methods, including Visa and Mastercard transactions across 173 countries, as well as Apple Pay, Google Pay, domestic transfers, and mobile wallets in emerging markets. With simplified processes for buying and selling crypto with domestic currencies, digital asset transactions become as straightforward as regular online payments.
Furthermore, Alchemy Pay has obtained numerous licenses associated with payment services in various countries, demonstrating its commitment to compliance and regulatory standards. Recognized by Visa and Mastercard as an authorized third-party service provider, Alchemy Pay establishes itself as a reliable fiat-crypto payment gateway, ensuring smooth and secure transactions for individual users and business partners.
Lido’s innovative approach to decentralized staking allows users to mint transferable staking tokens and receive rewards linked to validator activities on Ethereum and Polygon networks. With a total of $29.7 billion staked tokens, Lido is at the forefront of promoting secure and decentralized staking solutions.
The collaboration between Alchemy Pay and Lido goes beyond technical integration. It signifies a step towards a more interconnected and accessible blockchain ecosystem. By enabling easy and secure access to stETH through familiar payment methods, Alchemy Pay and Lido are driving broader adoption of DeFi practices and enhancing the utility of staked assets.