Alchemy Pay Receives $10 Million Investment from DWF Labs

Singapore-based payment service provider Alchemy Pay has secured a $10 million investment from market maker DWF Labs at a valuation of $400 million to expand its business in South Korea.

Alchemy Pay provides a way for crypto companies to access fiat payment systems, and it currently has partnerships with Visa, Mastercard, Google Pay and Apple Pay, among others. Last week, Alchemy Pay announced that its fiat-crypto on-ramp solution is live on OKX, allowing OKX users to buy crypto with fiat currencies.

In the last six weeks, DWF Labs has made eight rounds of at least $10 million in investments or funding for crypto and Web3 projects. The combined total reaches $165 million.

According to TokenInsight data, Alchemy Pay ($ACH) went up by 2.77% in the last hour, trading at $0.033506 now.