Asia’s First Crypto-Fiat Mobile Payment System

Patrick Ngan, co-founder of Alchemy Global Payment Solutions (Alchemy GPS) spoke at Blockshow 2019 in Singapore on “the first unified crypto-fiat payment solution in Asia,”

Ngan describes a merchant product that lets customers/users can decide on their payment choices whether they want to pay in their local fiat currency or cryptocurrency of their choice.

“People in this audience probably have a lot of Bitcoin,” Ngan said. “Instead of trading that currency, we can give you the chance to freely spend it on that expensive bottle of Dom Perignon, or a fancy handbag.”

Patrick Ngan

Patrick Ngan

The Alchemy GPS merchant app is available for download from Google Play as well as the App Store. Major payment systems such as AliPay, WeChat Pay, Paynow, Rakuten Pay as well as other major cryptocurrencies are supported by the app.

Ultimate Aim Is Driving Crypto Adoption

The versatility of Alchemy GPS in paying both in crypto as well as in fiat settlement highlights it can be handled by users from the conventional spectrum as well as the dynamic crypto traders who can handle the volatility of the crypto market.

Ngan explained that the ultimate goal here is to drive cryptocurrency adoption. “We want to enable all the popular crypto tokens out there to be accepted by our merchant system. Anyone who buys tokens should be able to easily spend them.”

Alchemy GPS is already up and running in Singapore and Hong Kong today. Ngan expressed his plan for the expansion of the app into countries such as Japan, Korea, and Thailand with later plans to enter the United Arab Emirates and the United States.


Source: | Image: Shutterstock


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