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VeChain Partners Alchemy Pay to Enable the Purchase of Goods Across 2 Million Stores Using VET

Lele Jima

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More utility for the VET token following VeChain’s partnership with Alchemy Pay.

Popular blockchain project VeChain has announced a collaboration with cryptocurrency payment provider Alchemy Pay.

According to a recent announcement, the partnership will enable cryptocurrency enthusiasts to purchase goods from more than two million stores globally, using VeChain’s native digital currency, VET.

“Thanks to partner @AlchemyPay, $VET can now be used to buy goods at 2 million+ stores globally!,” VeChain said in an announcement.

Through VeChain’s low-carbon and scalable blockchain architecture, clients interested in the solution will be able to pay an insignificant transaction cost when they use the service.

“Using our advanced low-#carbon #blockchain, transactions cost fractions of a cent & are processed in seconds from any #VeChain wallet,” VeChain added.

Alchemy Pay Bridging Gap Between Crypto & Fiat

Alchemy Pay also took to the popular microblogging platform Twitter to announce the development, saying:

“Great news VeChainers! You can now use @vechainofficial’s $VET token to pay at 2+million merchants in over 70 countries around the world!”

 Alchemy Pay is an all-in-one online and offline crypto-fiat payment gateway for different businesses, including cryptocurrency exchanges and e-commerce platforms.

The firm is focused on bridging the gap between cryptocurrency and fiat, which it believes will bolster the widespread adoption of digital currencies in the real world.

VET Utility Increases

Notably, the development will increase the utility of VET, which will record massive adoptions from people interested in using cryptocurrency to purchase items from the supported stores.

Meanwhile, the news that VET can now be used to purchase goods across over two million stores did not have much impact on the price of the digital currency.

The token only recorded a slight gain from a low of $0.051 to $0.053. At the time of writing, the coin is down 0.4 % and changing hands at around $0.051, which is mainly due to the dip of Bitcoin price.

Meanwhile, VeChain recently announced that it would be gifting $500,000 to its community in celebration of the launch of its stablecoin, VeUSD.

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