Popular altcoin project VeChain (VET) announced that it has collaborated with cryptocurrency payment provider Alchemy Pay. However, the news did not have a serious impact on the altcoin price.
Altcoin project VeChain teams up with Alchemy Pay
According to a recent announcement, the partnership allows cryptocurrency enthusiasts to buy goods from more than two million stores worldwide using VeChain’s native digital currency VET. will enable them to purchase. VeChain announced, “Thanks to the Alchemy Pay partnership, VET can now be used to purchase goods in over 2 million stores worldwide!” made the statement.
Thanks to VeChain’s low-carbon and scalable Blockchain architecture, customers interested in the solution will be able to pay a negligible transaction cost when they use the service. VeChain detailed its statement, “Using our advanced low-carbon Blockchain, transactions cost a fraction of a cent and are processed in seconds from any VeChain wallet.”
Alchemy Pay bridges the gap between crypto and fiat money
Alchemy Pay also took to the popular microblogging platform Twitter to announce the development:
Great news VeChainers! You can now use vechainofficial’s VET token to pay 2+million merchants in over 70 countries worldwide!
Including Alchemy Pay, cryptocurrency exchanges and e-commerce platforms It is an all-in-one online and off-line crypto-fiat payment network provider for different businesses. The firm is focusing on bridging the gap between cryptocurrencies and fiat, which it believes will support the widespread adoption of digital currencies in the real world.
How will the partnership affect altcoin utility?
According to experts, this development in particular will increase the utility of VET, which will save massive adoption by people interested in using cryptocurrency to purchase items from supported stores.
Meanwhile, the news that VET can now be used to purchase goods in more than two million stores hasn’t had much of an impact on the price of the digital currency. The token only recorded gains as low as $0.051 to $0.053. At press time, the altcoin was trading at $0.052, up 0.27%. Meanwhile, VeChain recently announced that it will give away $500,000 to its community to celebrate the launch of stablecoin VeUSD.
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