NEO holders will soon be able to use their tokens to pay for services on Alchemy Pay’s merchant networks, including major eCommerce platforms Shopify and Arcadier. This results from a partnership announced by Neo Global Development and Alchemy Pay, a hybrid crypto-fiat gateway and payments services provider.

Founded in 2018, Alchemy Pay states that its cryptocurrency and fiat payment system is used by more than 3,000 physical businesses and is available in 65 countries, with approximately 300 cryptocurrency and fiat payment channels.

The Alchemy Pay platform offers services and products for both merchants and shoppers. For merchants, the platform integrates with e-commerce websites and also offers a point-of-sale system. Regardless of what form of currency is used to transact, Alchemy Pay will settle in the currency of the merchant’s choice.

For shoppers, Alchemy Pay offers a mobile application and a physical debit card to pay for goods and services in cryptocurrency.

Beyond integrating NEO in the payment platform, the two entities will be among 36 founding members of the Blockchain Infrastructure Alliance. The BIA was formed to promote and drive the growth of blockchain and cryptocurrency. It is comprised of blockchain industry leaders, service providers, and regulators.

Looking forward, NGD and Alchemy Pay will explore the possibility of establishing a joint ecosystem fund to support DeFi and payment-related projects building on the Neo N3 blockchain. Supported projects will also receive technical resources, cross-community promotion efforts, and general ecosystem development support.

The full announcement can be found at the link below: