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Alchemy Pay Supports Nigeria Bank Transfer for Fiat-Crypto On-Ramp

Cointime Official

Alchemy Pay has announced that it now supports domestic bank transfer payments for crypto purchases in Nigeria. This enhancement enables seamless buying and selling of cryptocurrency for Nigerian users by treating transactions as domestic and allowing them to use the local Nigerian Naira currency.

As a leading payment provider, Alchemy Pay's fiat-crypto on-ramp plugin is widely used by major crypto exchanges such as OKX, as well as many wallets, DeFi, gaming, and NFT marketplaces.

With the new support for bank transfer payments, Nigerian users can now buy crypto directly with Nigerian Naira on crypto platforms, using popular local alternative payment methods in addition to Mastercard and Visa. Transactions can be made from a minimum of 11300 NGN, and users can enjoy access to crypto using bank transfers for many banks, including all major banks in Nigeria, with higher success rates at lower fees.

Alchemy Pay's simplification of the onboarding process is crucial for the widespread adoption of cryptocurrencies, and the company's success in Nigeria is not the only one in emerging markets, as the gateway provider also supports highly popular regional payment methods in emerging markets such as Pix, SPEI, GCash, Dana, OVO, and PayNow.

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