Alchemy Pay Teams Up With Worldpay To Connect Fiat To Web3 Economy
Portfolio Pulse from Khyathi Dalal
Alchemy Pay has partnered with Worldpay, a U.K.-based payment provider, to facilitate the purchase of cryptocurrencies using Visa and Mastercard payment rails. This collaboration aims to bridge traditional finance with the Web3 economy, making digital assets and NFTs more accessible. Worldpay, which was acquired by FIS in 2019 and recently sold a majority stake to GTCR, processes over 130 million transactions daily and has partnerships with several major crypto entities.
December 19, 2023 | 9:51 pm
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FIS, which acquired Worldpay in 2019 and sold a majority stake to GTCR in July 2023, retains a 45% ownership. The partnership between Alchemy Pay and Worldpay could enhance the value of FIS's remaining stake by expanding Worldpay's reach in the crypto space.
The partnership between Alchemy Pay and Worldpay is likely to have a positive impact on FIS's stock in the short term due to the potential for increased transaction volume and expansion into the growing Web3 economy. FIS's significant ownership in Worldpay means that successes in Worldpay's operations, especially in high-growth areas like cryptocurrency, could reflect positively on FIS's financial performance and investor sentiment.
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