Crypto payments solutions provider Alchemy Pay has announced a partnership with CNHC, the world's largest CNH stablecoin ecosystem, on its official Twitter account. With this newly formed partnership, CNHC will become part of the Alchemy Pay ecosystem and leverage on-ramp and off-ramp solutions to enable users to trade CNHC using a variety of fiat currencies.
In the announcement, it is stated that CNHC (CNH Coin) is a stablecoin that is pegged to the CNH at a 1:1 ratio and has full reserves securely stored in a depository institution located in Singapore.
What Are On-Ramp & Off-Ramp Solutions?
On-Ramp: A fiat on-ramp platform is an exchange or service provider that allows users to purchase cryptocurrencies in exchange for fiat currencies. The first step for individuals who want to trade cryptocurrency is usually to buy some amount of cryptocurrency. This step will require fiat currency trading for digital assets, and any service that provides this is known as “on-ramp”. On-ramp platforms provide a way for new users and new money to step into crypto trading.
Off-Ramp: “Off-ramp”, which is the opposite of on-ramp, allows users to exchange cryptocurrencies for fiat currencies or purchase various products and services with cryptocurrencies. Users need to have options to sell cryptocurrency, just as they need to pay with fiat currency to buy cryptocurrency.
.#AlchemyPay has partnered with @CNHC_TO, the world's largest CNH stablecoin ecosystem, to integrate CNHC with our on & off ramp solutions, allowing seamless transfer of CNHC between fiat and crypto.
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) April 9, 2023
Learn more at:https://t.co/CSeFscFhs4$ACH
