In a world where the mundane often overshadows the extraordinary, the cryptocurrency payment platform Alchemy Pay has decided to embark on a rather audacious venture. With a flourish reminiscent of a grand novel, they have announced a partnership with the tokenization firm Backed, a union that promises to expand into the realm of real-world assets (RWA). This revelation, shared with the eager ears of CryptoMoon on the twelfth day of June, 2025, has sent ripples of excitement through the digital ether.
With the ambition of a young poet dreaming of fame, Alchemy Pay plans to unveil a staggering 55 tokenized US exchange-traded funds (ETFs) and stocks on its RWA platform, courtesy of Backed’s xStocks integration. One can almost hear the collective gasp of investors in regions where access to US investment products has been as elusive as a summer breeze.
“Together with Backed, we’re making it possible for regular people to access leading global stocks and ETFs, breaking down the legacy walls that have kept too many people out,” declared Ailona Tsik, the chief marketing officer of Alchemy Pay, with a conviction that could move mountains—or at least a few wallets.
Ah, but let us not forget the ever-watchful eye of regulation! Backed, in its wisdom, also provides tokenized stocks and ETFs to the US crypto exchange Kraken, a fact that adds a layer of intrigue to this unfolding drama.
Alchemy Pay’s RWAs won’t be available in the US
Alas, dear reader, the plot thickens! Alchemy Pay’s forthcoming RWA platform will only grace regions where the platform supports fiat on-ramps and where xStocks are not shackled by restrictions. Apart from the highly sanctioned jurisdictions—think Iran, North Korea, and Syria—the list of countries where xStocks are restricted includes the US. Thus, the tantalizing allure of Alchemy Pay’s RWAs will remain just that—a tantalizing allure for US residents.
“The reality is that users in the US already have relatively seamless access to traditional equities like stocks and ETFs through well-established brokerage platforms,” Tsik remarked, adding a touch of irony to the situation:
“Our mission with this product is to bridge the gap for users outside of the US, especially in regions where direct access to such assets has traditionally been limited or unavailable.”
Solana-based RWA debut expected in August
As the sun rises on the horizon of August, Alchemy Pay’s RWA platform is expected to go live, with the product already available in prototype form through a dedicated portal. The US exchange Kraken, not to be left behind, has also announced its upcoming RWA offering in collaboration with Backed, a move that has the potential to stir the pot even further.
While Backed currently issues assets on Solana—the same blockchain that will serve as the foundation for Kraken’s upcoming tokenized RWA platform—Alchemy Pay has grander ambitions. “While xStocks currently issues its RWA assets on Solana and is part of the current integration, we’re not limiting ourselves to a single chain,” Tsik assured, with a twinkle in her eye.
“In the future, we will continue to partner with RWA companies to support various RWA assets on different chains,” she added, as if conjuring a vision of a digital utopia.
According to its website, Alchemy Pay’s RWA platform is projected to support a staggering 173 countries, 50 fiat currencies, all conceivable crypto assets, and more than 300 payment channels, including the likes of Visa and Apple Pay. Truly, a modern marvel! 🌍💳
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2025-06-12 11:21