Alchemy Pay, in conjunction with Danal and its subsidiary Danal Fintech, has formally declared a strategic partnership that will significantly enhance their global payment solutions.
The signing of a Memorandum of Understanding on June 25 solidified this collaboration, with the aim of leveraging the strengths of each company to improve their competitive edge in the global payment market. This partnership is a pivotal moment for all parties involved, poised to have profound impacts on both local and international payment landscapes.
This partnership is more than just a business alliance; it represents a strategic cooperation for a comprehensive payment ecosystem across continents. Alchemy Pay, Danal, and Danal Fintech will combine their expertise and technical resources to drive innovation and deliver efficiencies in payments for businesses and consumers in Korea and worldwide. The collaboration is seen as a crucial milestone in implementing and leveraging each organization’s services, from traditional financial transactions to modern crypto-payment solutions.
The establishment of this strategic partnership between Alchemy Pay, Danal, and Danal Fintech marks an exciting new chapter in global payments technology. It is a game-changer in the competitive American payment landscape and is expected to greatly enhance the services already available in the Korean market.
Son Kyung-hwan, CEO of Danal Fintech, highlighted the significance of this collaboration in their international expansion strategy, stating that partnering with Alchemy Pay will refine their payment solutions and enhance their global market penetration.
This collaboration is anticipated to stimulate the development of new payment protocols that could compete with those of the traditional financial services industry. Through strategic partnerships with companies like PayPal, as well as its recent deal-making momentum, Danal views this new pathway with Alchemy Pay as a strategic channel to strengthen its position in international markets and expand its financial operations.
Alchemy Pay views the Korean market as a key area for growth and sees potential in leveraging Danal’s established presence and Danal Fintech’s specialized experience in virtual asset payments. This strategic alignment is designed to facilitate in-depth discussions on entering the Korean market and expanding Alchemy Pay’s operational footprint globally. An Alchemy Pay spokesperson emphasized that their collaboration with Danal and Danal Fintech is strategic, aimed at not only entering the Korean market but also establishing a robust global payment cooperation framework.
Established in Singapore in 2017, Alchemy Pay creates a payment gateway that can be quickly adapted to the diverse needs of digital and fiat convenience. Its suite of products includes On & Off Ramp solutions, Crypto Card services, Web3 Digital Bank functionalities, NFT Checkout capabilities, and end-to-end Crypto Payments. Accepted in 173 countries, Alchemy Pay is working to expand the application of its innovative payment solutions across regions and industries.