Here’s Why Alchemy Pay (ACH) is Over 29% Up Today

The fiat-to-crypto payment solutions provider Alchemy Pay has witnessed many significant developments recently, which are driving a double-digit rally for the platform’s native token, ACH.

According to data from CoinMarketCap, ACH has surged by more than 30% in the last 24 hours, and in seven days, the asset has recorded a 41% rally. The token is also up 21% in a month, moving opposite from the broader crypto market, which has been in a correction phase in the last two months.

At the time of writing, ACH was changing hands at $0.0275 after surging from the $0.0209 level. The token’s 24-hour trading volume is up 489% to $207 million, while its market cap is up 29% to $243 million.

Why is ACH Up?

There are several reasons for the ascent in the value of ACH, one of which is Alchemy Pay’s recently announced partnership with Ethena Labs, the stablecoin issuer and development company behind the Ethereum-based synthetic dollar protocol Ethena.

Alchemy Pay announced Tuesday that it has allied with Ethena Labs to integrate support for the protocol’s crypto-backed synthetic dollar stablecoin USDe and governance token ENA. As a result of the partnership, Alchemy Pay’s users across at least 173 countries can trade USDe and ENA alongside 50 fiat currencies through Visa, Mastercard, Google Pay, Apple Pay, mobile wallets, and bank transfers.

Additionally, Ethena has listed the payment solutions company as an official fiat-to-crypto ramp provider for USDe purchases within its ecosystem. Alchemy Pay is now available for users on the Ethena swap portal.

“By integrating Alchemy Pay’s ramp solution, Ethena enhances global accessibility for $USDe and $ENA, fostering deeper adoption across DeFi platforms. Alchemy Pay’s ramp solution plays a key role in making crypto more accessible and driving adoption. By enabling seamless conversions between fiat and crypto currencies, it provides both newcomers and seasoned users with a frictionless experience in the crypto space,” Alchemy Pay stated in a blog post.

Alchemy Pay’s Plans For 2025

Another factor driving the ACH rally is Alchemy Pay obtaining a Money Transmitter License (MTL) in Arizona, reinforcing the firm’s commitment to compliance and goal of expanding its footprint in the United States.

Alchemy Pay now holds MTLs in nine U.S. states, including Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, and Wyoming, and has pending applications with multiple regulators. The company has also secured licenses to operate in several countries, including the United Kingdom, South Korea, Australia, Canada, and Switzerland.

The company’s chief marketing officer, Ailona Tsik, said:

“This regulatory achievement underscores our unwavering commitment to compliance, security, and financial transparency. As the digital asset industry matures, obtaining the necessary regulatory approvals remains a top priority for us. We are dedicated to providing our users with a secure and legally compliant platform, and this latest milestone reinforces that commitment.”

The latest developments are part of Alchemy Pay’s roadmap for 2025. Last week, the entity unveiled its strategic vision for the year, titled Pioneer 2025.

Four stand out among the firm’s plans for the year: becoming a global financial hub for real-world assets (RWAs), focusing on regulatory growth, venturing into the artificial intelligence payment frontier, and expanding the Alchemy Chain as a stablecoin network—this will come with a specialized public blockchain built for stablecoins.