The Alchemy Pay team announced in a tweet on Wednesday that people can now use VeChain’s VET token on over two million merchants in over 70 countries worldwide. The move is expected to boost the utility of the VET coin.
Alchemy Pay is a payment system focused on retail transactions at the Point-of-Sale and peer-to-peer remittance. Users can make payments in fiat, stablecoins and other cryptocurrencies on traditional payment systems.
Alchemy Pay’s ACH token has added less than 4% to its value in the last 24 hours and currently trades at $0.02865.
VeChain Thor (VET) is a blockchain with the posited goal of solving real-world economic problems. VeChain leverages the Proof of Authority (PoA) consensus mechanism. PoA is a Byzantine Fault Tolerant probabilistic consensus mechanism based on HotStuff, which relies on Authority Masternodes (AM) associated with verified identities.
VET is up by less than 1% so far today and is currently trading at $0.05153