Singapore, November 18, 2021 – ARPA, the blockchain-based solution for privacy-preserving computation, and the crypto-fiat hybrid payment solutions provider, Alchemy Pay (ACH), have announced a partnership in which Alchemy Pay will utilize ARPA’s Multi-Party Computation (MPC) protocol to develop a global, multi-business networked loyalty program with enhanced privacy.
Building on Alchemy Pay’s existing payment systems, Alchemy Pay will be developing turnkey loyalty programs solutions for businesses and merchants with market leading features such as redemption across all of Alchemy Pay’s global merchant network, multi-brand loyalty programs, fraud-proof issuance, and settlement point systems.
The partnership with ARPA will provide Alchemy Pay with a privacy-secured base infrastructure necessary to track all participating merchants’ issuance and settlement transactions automatically in real-time on the blockchain without compromising the business data of any party. The secret sharing of private data and verification of data is conducted using ARPA’s Message Authentication Code.
In addition to the loyalty program, Alchemy Pay will amplify the use cases of ARPA token by integrating the token into Alchemy Pay’s crypto-fiat payment network. This will enable ARPA to be transacted across Alchemy Pay’s merchants networks, including major e-commerce platforms such as Shopify and Arcadier.
Alchemy Pay CEO, John Tan, said of the partnership, “Our users can have the peace of mind of knowing that ARPA helps us provide them with security and privacy for their data. ARPA is the leader in blockchain compatible secure computation, and this capability adds significant value to our ecosystem.”
Felix Xu, of ARPA, added, “Alchemy Pay’s innovative payment system is leading the way in DeFi, and ARPA will play an essential role through the unique, scalable privacy and security we offer to enhance Alchemy Pay’s suite of DeFi offerings.”
As part of the partnership, ARPA will join the Blockchain Infrastructure Alliance as a founding member – which comprises a growing list of blockchain industry leaders, including multiple public blockchain networks, exchanges, stablecoin issuers, DeFi platforms. The Alliance will jointly promote and drive the growth and advancement of the cryptocurrency and blockchain space. More information on Blockchain Infrastructure Alliance can be found at www.bia.network.
ARPA is a blockchain-based solution for privacy-preserving computation, enabled by Multi-Party Computation (“MPC”). Founded in April 2018, the goal of ARPA is to separate data utility from ownership and enable data renting. ARPA’s MPC protocol creates ways for multiple entities to collaboratively analyze data and extract data synergies while keeping each party’s data input private and secure.
ARPA is backed by investors like Arrington XRP Capital, LYVC, Coefficient Ventures, Ledger Capital, and GBIC, while the token is currently trading on exchanges including Coinbase, Binance, Huobi Global and Bithumb Korea.Website: https://arpachain.io
About Alchemy Pay (ACH)
Alchemy Pay is the pioneer of the world’s first hybrid fiat and digital currency gateway solution for businesses and investors. Alchemy Pay powers seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions, and powers adoption of blockchain technology by making crypto investment and DeFi services readily accessible to consumers and institutions in the fiat economy.
Today, Alchemy Pay operates in 65 countries and regions and has touchpoints with more than 2 million merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay and more.