- USDD is backed by BTC, Tron, USDC; it's the world’s flagship over-collateralized stablecoin
- Alchemy Pay will allow users across the globe to buy USDD on the official website
Leading payment processor Alchemy Pay and Decentralized USD (USDD) have announced a significant partnership to incorporate USDD into the former’s ramp platform, Bankless Times learned from a press release. This will allow customers of Alchemy Pay to buy USDD using fiat and other conventional methods of payment.
USDD has constant backing by mainstream digital assets. It is the world’s flagship over-collateralized, decentralized stablecoin.
Future on-ramp integration
The partnership will involve future on-ramp integration services as well. Alchemy Pay will allow users across the globe (with the exception of the US) to buy the USDD token on the stablecoin’s official website. A number of payment options will be available, such as Visa, Mastercard, bank transfer, and some commonly used mobile wallets.
A great year for Alchemy Pay
2023 has been a good year for Alchemy Pay. Earlier this year, Visa announced that the company would become a partner. This was a validation for the company’s platform. In April, the developers announced their plans to expand to South Korea after receiving a $10 million investment from DWF. The ACH token surged, piggybacking on the news.
Alchemy Pay is also an authorized third-party service provider to Mastercard. It is present in 173 countries and has more than 300 payment channels. Its impressive licensing achievements solidify its excellent global reputation. The platform is pursuing licenses in the UK and Hong Kong and expects outcomes by the third quarter of 2023.
In March, Alchemy Pay and leading crypto exchange OKX announced a partnership to expand the latter’s fiat on-ramp offerings to users in Mexico, Thailand, Indonesia, the Philippines, and Vietnam. OKX has enabled Alchemy Pay for the official currencies of those countries.
TRON DAO Reserve holds USDD in custody
The Tron ecosystem introduced USDD within the framework of an over-collateralization approach. The TRON DAO Reserve holds the stablecoin in custody. USDD is backed by Bitcoin, USD Coin, and the Tron token, which ensures the stability of its value.
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