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Thanks to a New Partnership, VeChain (VET) Is Now Accepted as Payment in 2,000,000 Stores Worldwide

After partnering with crypto payments platform Alchemy Pay, supply chain-focused VeChain (VET) is now accepted as payment at over two million establishments around the world (ACH).

VeChain’s native token VET may now be used to buy real-world goods and services using Alchemy Pay’s platform with instant transactions that cost less than a penny, according to a statement.

“Thanks to partner Alchemy Pay, VET can now be used to buy goods at two million+ stores globally! Using our advanced low-carbon blockchain, transactions cost fractions of a cent and are processed in seconds from any VeChain wallet.”

Sunny Lu, the CEO and founder of Vechain, stated in a March news release that VET’s partnership with Alchemy Pay intends to increase VET’s utility as a payment method and adoption rate.

“The integration of VET into Alchemy Pay’s crypto payment system is important in further expanding the real-world use cases for VET as a form of payment. By enabling mainstream payment standards like Visa, Mastercard and Paypal using Alchemy Pay, the mainstream adoption of VET will increase by making direct access possible, bypassing the complications of crypto exchanges that can be a barrier for many new users.”

At the time of writing, VET was trading at $0.049, up 11.5% from its 24-hour low of $0.044.

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