Crypto payment gateway Alchemy Pay is teaming up with Sonic Labs to enable fiat on-ramps for Sonic’s native token S.
Alchemy Pay (ACH) and Sonic Labs announced their strategic partnership via a press release published on Wednesday, March 26.
In the announcement, the companies said they were joining forces to support S token’s global adoption. S is the native token of the high-performing Ethereum Virtual Machine blockchain Sonic, formerly Fantom.
The integration will see the ramp solution provider add S to its suite of supported cryptocurrencies. With this, anyone around the world can use supported local fiat currencies to buy Sonic’s token.
The platform launched a layer 1 blockchain in 2024 to boost this ambition.
“By integrating Alchemy Pay’s robust fiat on-ramp solution, this partnership significantly lowers the entry barriers to Sonic’s high-performance blockchain network. Users can now seamlessly acquire and engage with S, while developers benefit from increased adoption and liquidity within the Sonic ecosystem,” Alchemy Pay wrote.
S token adoption
Alchemy Pay’s solution also supports over 50 fiat currencies, including the US dollar, euro and British pound.
Users also have access to over 300 payment channels, among them major global payment methods such as Visa, Mastercard, mobile wallets and domestic transfers.
The frictionless fiat-to-crypto support available to all major cryptocurrencies such as Bitcoin, Ethereum, XRP and Tether is now extended to Sonic’s S.
Alchemy’s support means S could see increased adoption while the EVM blockchain benefits from further developer activity. Users on Sonic use S for governance voting, transaction fees and staking.
Integrating Alchemy Pay will help Sonic expand its global reach, a key feature towards bringing traditional finance on-chain.
The latest partnership for Alchemy Pay follows this month’s other notable collaboration involving crypto hardware wallet maker Ledger.
In early March, the two companies announced that Alchemy Pay’s On & Off-Ramp feature was now available to Ledger Live users.
Ledger Live is a wallet app that allows users to easily buy,sell or manage their cryptocurrencies.
Adding Alchemy Pay support allowed for further accessibility, with users able to quickly onboard when looking to buy crypto assets. Alchemy Pay also recently hit key regulatory milestones, including registration in Australia.
ACH and S token prices
The value of the native token ACH has increased more than 15% this past week, with year-to-date highs of $0.057 hit in early February.
Sonic (prev. FTM), on the other hand, is up 18% in the past week and reached an all-time high of $1.03 in early January 2025. S price recently received a boost after Binance.US announced it would support FTM to S token swap.
The migration happens at the ratio of 1:1.
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