Cryptocurrency fee platform Alchemy Pay is increasing into real-world property (RWA) by a brand new partnership with tokenization agency Backed, the corporate stated in a Thursday announcement shared with Cointelegraph.
The corporate plans to launch 55 tokenized US exchange-traded funds (ETFs) and shares on its RWA platform by way of Backed’s xStocks integration.
The rollout will allow direct fiat-to-RWA transactions with a deal with areas with restricted entry to US funding merchandise.
“Along with Backed, we’re making it potential for normal folks to entry main international shares and ETFs, breaking down the legacy partitions which have stored too many individuals out,” Alchemy Pay’s chief advertising officer Ailona Tsik stated.
Backed additionally gives tokenized shares and ETFs to the US crypto alternate Kraken.
Alchemy Pay’s RWAs gained’t be accessible within the US
Alchemy Pay’s upcoming RWA platform shall be accessible in areas the place the platform helps fiat on-ramps and the place xStocks will not be restricted.
Other than extremely sanctioned jurisdictions like Iran, North Korea and Syria, the checklist of nations the place xStocks are restricted includes the US, making Alchemy Pay’s RWAs unavailable to US residents.
“The truth is that customers within the US have already got comparatively seamless entry to conventional equities like shares and ETFs by well-established brokerage platforms,” Tsik instructed Cointelegraph, including:
“Our mission with this product is to bridge the hole for customers exterior of the US, particularly in areas the place direct entry to such property has historically been restricted or unavailable.”
Solana-based RWA debut anticipated in August
Alchemy Pay’s RWA platform is anticipated to go reside in August, with the product already accessible in prototype kind by a devoted portal. US alternate Kraken also announced its upcoming RWA offering in collaboration with Backed in Might.
Whereas Backed presently points property on Solana — the identical blockchain used for Kraken’s upcoming tokenized RWA platform — Alchemy Pay stated it goals to combine extra chains over time.
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“Whereas xStocks presently points its RWA property on Solana and is an element of the present integration, we’re not limiting ourselves to a single chain,” Tsik instructed Cointelegraph.
“Sooner or later, we’ll proceed to associate with RWA corporations to assist numerous RWA property on completely different chains,” Tsik added.
According to its web site, Alchemy Pay’s RWA platform is projected to assist 173 nations, 50 fiat currencies, all potential crypto property and greater than 300 fee channels, together with Visa and Apple Pay.
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Cointelegraph by Helen Partz Alchemy Pay Enters RWAs With Kraken’s Tokenization Partner cointelegraph.com 2025-06-12 08:01:09
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