Crypto payment firm Alchemy Pay adds SEPA deposits in Europe

Cryptocurrency payment platform Alchemy Pay is scaling its payment options by integrating new on-ramps — or new ways to buy crypto — in Europe and the United Kingdom.

Alchemy Pay has introduced new deposit options, including the Euro Instant solution, Single Euro Payments Area (SEPA) Instant, and the U.K. fast money transfer option, Faster Payments.

Announcing the news on Nov. 29, Alchemy Pay noted that the new payment options aim to simplify purchasing cryptocurrencies like Bitcoin (BTC), enabling transfers to be processed in “seconds to a few minutes.”

With SEPA Instant, European Alchemy Pay customers can buy up to 5000 euros ($5,460) in cryptocurrency, while Faster Payments has a transfer limit of up to 5000 British pounds ($6,320). These two new channels are accessible to users in 30 European countries and the U.K. after completing Know Your Customer checks.

Europe’s SEPA Instant and Faster Payments in the U.K. join a range of supported local payment channels such as the Polish Blik payment system, Bancontact, Skrill and others.

“This move further amplifies Alchemy Pay’s payment network throughout Europe, surpassing emerging markets and broadening its influence,” the announcement notes.

Related: SoFi Technologies to cease crypto services by Dec. 19

According to the announcement, Alchemy Pay currently supports 300 fiat payment channels across 173 countries, mostly in Southeast Asia. The platform is actively expanding its payment service worldwide, adding new licenses in the United States recently, including the states of Iowa and Arkansas.

In February 2023, Alchemy Pay also obtained licenses in operating markets like Indonesia and Lithuania.

Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in