Alchemy Pay’s Stablecoin Deal in China

Blockchain project Alchemy Pay, which provides payment solutions, has signed another important agreement in the Asian continent. According to official statements, Alchemy Pay has partnered with CNHC Group to add CNHC to its supported assets. Accordingly, stablecoin CNHC will be part of the Alchemy Pay ecosystem and users will be able to buy and sell this stablecoin project with different fiat currencies.

CNHC trades as a stablecoin version of the fiat currency known as CNH, the Overseas Chinese Yuan. The developers state that CNHC (CNH Coin) is pegged at a ratio of 1:1 to CNH and all reserves are maintained in Singapore. CNHC is currently traded on the Conflux and Ethereum networks.

This latest deal of Alchemy Pay comes after a $10 million investment from a South Korea-based company. Last week, DWF Labs announced that it will support Alchemy Pay’s expansion in the South Korean market and has secured $10 million in funding.

All these developments reveal that the company, which provides payment solutions, has made important moves to grow in Asia as well. Founded in 2018, the company has partnerships with important institutions such as PayPal, MasterCard, Visa, Google Pay and Apple Pay. The local token of the project, ACH, has given back a significant part of its earnings after the announcement of the partnership yesterday. The altcoin, which rose from $ 0.038 to $ 0.044 with the statement, is again at $ 0.039.