Alchemy Pay and Offshore RMB Stablecoin Issuer CNHC enter into a Partnership

Alchemy Pay has announced a partnership with CNHC, the CNH (Offshore Chinese Yuan) stable currency, to provide seamless crypto ramp solutions and payment scenarios. With this partnership, CNHC will be added to Alchemy Pay's ecosystem.

CNHC is a stablecoin pegged to the CNH currency at a 1:1 ratio, with full reserves securely stored in a Singapore-based depository institution. CNHC Group, the issuer of CNHC, is a blockchain technology company based in Singapore. The stablecoin is issued on both Ethereum and Conflux and serves as an alternative means for holding CNH without establishing a bank account.

Alchemy Pay is known for providing solutions that give crypto and Web3 services access to fiat payments for mainstream accessibility. Alchemy Pay's payment gateway supports payments with Visa, MasterCard, Discover, and Diners Club in 173 nations, as well as Apple Pay, Google Pay, multiple domestic transfers, and popular mobile wallets in emerging markets.

CNHC recently obtained $10 million in funding from KuCoin Ventures, Circle Ventures, and IDG Capital.

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