How could ACH (Alchemy), the Cryptocurrency payment Giant, cover 41% of the global payment market, serving more than 3.1 billion people in the world?

Recently, the cryptocurrency payment giant ACH (Alchemy) internally declared to advance its globalization process, which may result in making its service cover 41% of the global payment market and serving more than 3.1 billion people within two years.

Why is it possible for ACH (Alchemy) to achieve this?

By googling up its project founder Patrick Ngan (Yan Yonghao), it is hardly difficult to find that this goal can indeed be achieved for Patrick.

Google searches show that Patrick Ngan had been an international investment banker and longtime Chief Financial Officer of a listed company on the Hong Kong stock exchange, a former managing director of Huatai Financial Holdings and a former senior executive of UBS and HSBC. He has accumulated profound resources in the banking community and in government relationship around the world. QFpay has announced that ACH (Alchemy) will be the only cryptocurrency payment partner for QFpay worldwide.

At present, QFpay has legitimately entered more than 30 countries and regions around the world, mainly through direct cooperation with major local banks to provide payment services for the banks’ clients. From this point alone, ACH (Alchemy) is surely a promising project.

What on earth is ACH(Alchemy)?

Combining QFpay’s business situation with Alchemy’s business plan, as well as the Payment Technology Yellow Paper and payment consensus white paper, the operation logic itself is actually very simple: to encourage users to utilize cryptocurrency on transactions.

For transaction participants (users and merchants), if they use cryptocurrency payments, they’ll get rewarded with ACH (Alchemy) tokens, which results in saving payment fees; but there is no such benefit for them if using fiat currency. Since the choice is in the hands of users, merchants will actively recommend the use of cryptocurrency payment to the users. On one hand, the users can save money; on the other, the merchants can also earn money, thus the merchants will have the motivation to do this.

Another major application scenario of ACH (Alchemy) is to use ACH (Alchemy) as the opening deposit when the merchant opens an account, similar to the practice of Taobao, requiring merchants to put in a certain amount as deposit. The larger the node (transaction participant) is, the more the deposit will be; the earlier the opening, the less the deposit. In the future, the deposit will play a role similar to that of Taobao, i.e., when quality issues or disputes arise, the platform will make a deduction first.

With this simple and clear business model, along with the deep cooperation and accumulated relationship with local governments, banks, and giant consumers, the potential is indeed not to be underestimated. The possibility is certainly there for ACH (Alchemy) to become the next Paypal in the cryptocurrency world.

What is the potential of ACH (Alchemy) in the future?

According to public data, the market that ACH (Alchemy) has legitimately entered (Japan, Hong Kong, China, United Arab Emirates and Singapore) covers more than 130 million people. Users include over 2,000 taxis owned by Midwest Rental Car Company in Singapore. All the purchases in Pricerite Hong Kong can be settled in cryptocurrency provided by ACH (Alchemy). The world’s tallest Khalifa Tower Shopping Mall in Dubai and some Japanese businesses have begun to provide the service.

In the future, ACH (Alchemy) will leverage QFpay to enter its existing markets (including: European Union, Malaysia, Thailand, Philippines, Cambodia, Laos, Myanmar, UAE, Korea, Africa, Middle East, Latin America, Australia, New Zealand, etc.). In these areas, it will cover a total of 3.1 billion people worldwide and 41% of the global payment market.

Since the markets in planning to enter are the markets where QFpay has already had presence and had cooperation with local banks, the law risk is considerably low. If ACH (Alchemy) wants to enter smoothly, the difficulty is relatively little. It can cooperate directly with local banks, and quickly spread out, as long as there is enough commercial staff to move the project forward.

At present, according to the staff of ACH (Alchemy) in Singapore headquarters, ACH (Alchemy) is embarking on the IEO process, possibly sometime by the end of the year.

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