PANews reported on October 28 that crypto payment solution provider Alchemy Pay announced the launch of its Layer-1 blockchain, Alchemy Chain, which aims to reshape the future of the payment industry. Based on the scalable Solana Virtual Machine (SVM) architecture, Alchemy Chain supports the seamless integration of crypto and fiat payments, and promotes the transparency, security and efficiency of cross-border settlements. The blockchain adopts an innovative Trusted Proof of Authority (TPoA) mechanism and introduces advanced Layer-2 solutions to optimize data synchronization and improve scalability.

$ACH will be used as the functional token of Alchemy Chain, and users can pay transaction fees through $ACH or fiat currency. Alchemy Chain will also launch Meme Launchpad and Meme Telegram Bot to provide simplified development support for developers and ecological projects, further promoting the popularization of global encrypted payments.