In the recent industry development, Alchemy Pay has teamed up with Lido, a decentralized staking protocol, to provide a fiat On-Ramp for stETH. This integration enables users worldwide to purchase and sell stETH using local currencies and their preferred payment methods.
Users can now directly buy stETH, Lido’s liquid variant of staked ETH, through Alchemy Pay’s ramp page. stETH balances grow daily with staking rewards and can be used in DeFi activities like providing liquidity on Curve and collateral for loans on Aave.
Notably, Lido operates on the Ethereum and Polygon networks, allowing users to mint staking tokens that earn rewards based on validator activities. Currently, Lido has $29.7 billion worth of tokens staked on its platform.
Alchemy Pay’s payment gateway supports transactions via Visa, Mastercard, Apple Pay, Google Pay, domestic transfers, and leading mobile wallets in 173 countries.
This extensive support ensures high conversion rates and minimal fees for users acquiring stETH.
"Alchemy Pay’s integration with Lido makes staking more accessible and user-friendly," said a spokesperson from Alchemy Pay. "Our payment solutions provide multiple local payment channels and comply with regulatory standards."
Alchemy Pay holds licenses in the UK, the United States, Canada, Indonesia, and Lithuania, with additional licenses being pursued in Hong Kong and Singapore.
Recognized by Visa and Mastercard as an authorized third-party service provider, Alchemy Pay adheres to strict compliance and regulatory standards, reinforcing its reliability as a fiat-crypto payment gateway.
Conclusion
In summary, the partnership simplifies the process of engaging with DeFi platforms, making it easier for users to convert between fiat and crypto seamlessly.
With both Alchemy Pay and Lido focused on enhancing user experiences, this integration opens new opportunities for global participation in decentralized finance.
