Singapore-based payment service provider Alchemy Pay is expanding its capabilities by introducing SEPA deposits for euros in Europe and increasing the functionality of Faster Payments for fast electronic transfers in the UK. These new payment options are designed to speed up the transfer process and simplify the purchase of cryptocurrencies, as reported in the official blog of the platform.

The SEPA system will allow European Alchemy Pay customers to purchase cryptocurrency in the amount of up to €5,000, while the transfer limit in the Faster Payments extension is 5,000 British pounds. Both of these payment methods are now available to users from 30 European countries and citizens of England, subject to passing a customer identification check (KYC).

This step will allow Alchemy Pay to further expand its payment network across Europe and strengthen its influence, as emphasized in the company's message.

According to the data, at the moment Alchemy Pay supports 300 fiat payment channels in 173 countries around the world, with the main focus on Southeast Asia, but with active expansion to other regions. In addition, the company has obtained licenses in some US states and is registered in Indonesia and Lithuania.

It is also worth noting the partnership of Alchemy Pay with Mastercard, which led to the introduction of the NFT Checkout function. This feature allows users to pay for purchases of non-interchangeable tokens (NFT) with fiat funds, which contributes to expanding the availability of the digital art market.