Cryptocurrency wallet provider Cobo has reached a strategic cooperation with Alchemy Pay to add hybrid crypto-fiat payment option to its platform.

In a press release, Cobo said that the partnership looks to provide ‘high-performance’ overseas payment channels to their clients.

Besides, it said that the partnership aims for global expansion, also having asset management and DeFi on the agenda.

Alchemy Pay CEO John Tan said: “Alchemy Pay is expanding globally, as is Cobo. And by joining forces with one of the best crypto wallet and custody providers in Asia, we can better serve the clients that are the foundation of our growth.

“Moreover, Alchemy Pay increases its base of client touchpoints through the Cobo network.”

Partnership with Alchemy Pay will enable Cobo’s customers to get the benefit of payment options with fiat as well as crypto.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The tie-up will also offer Alchemy Pay access to the Cobos client network.

Moreover, it will provide the firm’s customers security and custodial benefits through Cobo.

Co-founded by F2Pool founder Discus Fish and ex-Facebook senior scientist Changhao Jiang in November 2017, Cobo looks to build a one-stop digital asset storage and management platform.

The firm provides a secure mobile wallet (Cobo Wallet), along with a high-end cold storage wallet (Cobo Vault). Besides, it offers custodial services for institutional investors.

In October last year, Alchemy Pay unveiled plans to launch its hybrid fiat and crypto payment services for ecommerce players on Shopify through its partnership with QFPay.

QFPay, a fiat payments supplier to over 1.2 million merchants, is a payment service provider of Shopify and the co-developer of the hybrid payment solution.