Launching the first fiat direct investment RWA platform, how does Alchemy Pay break the "U.S. stock tokenization" competition?

Recently, Robinhood, Kraken, and Bybit have officially announced the tokenization layout of U.S. stocks, promoting RWA to enter a new round of outbreak.

Back last month, crypto payments company Alchemy Pay announced that it had partnered with RWA tokenization platform Backed to launch xStocks on its Alchemy Pay RWA investment platform.

Alchemy Pay's xStocks product is the first batch of 60 tokenized assets, including Circle, Apple, Tesla, Google, SPY, etc., to support direct investment in U.S. stocks and ETF token assets with fiat currency. Alchemy Pay RWA is the first RWA platform to support fiat-to-currency direct investment in tokenized assets.

In the rapid growth of RWA, the competition is also becoming more and more fierce. What are the competitive advantages of Alchemy Pay's RWA platform? From crypto payments to RWA, what are Alchemy Pay's ambitions?

RWA has moved from concept experimentation to large-scale adoption

The successive entry of industry giants and the gradual clarity of the regulatory environment are helping RWA to become one of the fastest-growing sectors of on-chain finance.

According to RWA.xyz data, as of July 2025, the total value locked (TVL) of the RWA market is nearly US$25 billion, an increase of 188% from the beginning of 2024 (about US$8.593 billion) and an increase of 1,100% from the beginning of 2022 (about US$1.939 billion), showing strong market momentum.

 This round of RWA has undergone a qualitative change compared to the previous two cycles.

On the one hand, more and more industry giants are participating, and RWA has moved from concept experiments to large-scale adoption. Traditional financial giants such as BlackRock, Franklin, JPMorgan Chase, and WisdomTree tried fund/bond tokenization, and then traditional payment giants such as Visa and crypto giants such as Tether expanded their tokenization platforms.

Recently, as Coinbase sought approval from the US SEC to provide users with stock tokenization trading services, Robinhood, Kraken, Bybit, and Alchemy Pay have successively launched US stock tokenization products to further promote the large-scale adoption of RWA. 

The Redstone report notes that industry projections suggest that between 10% and 30% of global assets could be tokenized by 2030 to 2034.

On the other hand, the gradual clarity of the regulatory environment has also provided support for the outbreak of RWA. Switzerland, Hong Kong, Singapore and other places have established clear regulatory frameworks for tokenized assets. The upcoming GENIUS Act in the United States not only regulates stablecoins, but also paves the way for the tokenization of various real-world financial assets.

In addition, after multiple rounds of bulls and bears, DeFi has formed a complete underlying module, including DEX, lending, stablecoins, asset management protocols, etc., so that RWA can release more liquid value.

With the joint efforts of all parties, RWA is expected to continue its rapid growth in the next few years and become a key track to reshape the financial sector.

What are the benefits of Alchemy Pay RWA?

The Alchemy Pay RWA investment platform is expected to be officially launched in early August. The first batch of products to be launched is xStocks, which mainly includes 60 popular U.S. stocks and ETF tokenized assets such as Circle, Apple, Tesla, Google, and SPY. Alchemy Pay RWA is expected to cooperate with more RWA providers in the future to support a variety of RWA assets such as real estate, funds, and U.S. bonds, as well as expand more public chains.

Alchemy Pay's xStocks product allows users to invest in U.S. stocks around the clock just like cryptocurrency, without the traditional opening time restrictions of U.S. stocks. In addition, it lowers the investment threshold, allowing non-US investors to save the trouble of opening cross-border accounts and breaking geographical restrictions. At the same time, since the token can be subdivided, a small amount of money can also participate in popular stock investment, and it is no longer necessary to buy whole shares, which lowers the threshold for investment amount.

Compared with other RWA platforms such as U.S. stock tokenization, Alchemy Pay's biggest advantage may be that it has a mature global crypto payment gateway, which can further greatly reduce the threshold for non-U.S. users to invest across regions and simplify the operation process for users.

Alchemy Pay currently supports 173 countries, 50 fiat currencies and more than 300 payment channels, such as mainstream payment methods Visa, Mastercard, Apple Pay, Google Pay, as well as local payment methods SEPA and PIX, enabling users to directly purchase RWA assets with fiat currency without the need for a complex cryptocurrency exchange process. Alchemy Pay said that its RWA platform is the first platform to support one-click fiat currency investment in RWA assets such as U.S. stock tokens.

Based on the experience of crypto payment services for users in various regions of the world, Alchemy Pay RWA is very friendly to novices in terms of UI/UX design, operation process, etc.

The Alchemy Pay RWA page is now available with an intuitive design that allows users to "buy with one click" through a dedicated portal called "Buy Stocks", which greatly simplifies the investment process and is especially suitable for traditional investors who are not familiar with cryptocurrency.

 Alchemy Pay's RWA investment platform, like exchanges such as Kraken and Bybit, has also chosen xStocks, a tokenization platform developed by Backed, as the underlying technology service provider. Every 1 token of Alchemy Pay xStocks corresponds to 1 real stock, which is backed by physical shares or ETFs held by Backed.

Along with Kraken, Bybit, Solana, Chainlink, and others, Alchemy Pay not only ensures asset security and regulatory compliance through the xStocks compliance framework, reducing risk for investors, but is also expected to work with these leading projects to promote the development of RWA industry standards.

 Alchemy Pay's ambitions: from a payment gateway to a global crypto financial center

In addition to the recent launch of the RWA platform, Alchemy Pay also plans to launch Alchemy Chain in Q4 and issue stablecoins. Alchemy Chain will support frictionless conversions between global stablecoins such as USDT and USDC and local stablecoins such as EURC and MBRL, aggregating cross-chain and cross-jurisdictional liquidity.

Since its inception, Alchemy Pay has become one of the world's leading crypto payment platforms with its payment infrastructure covering 173 countries and seamless fiat-to-crypto conversion capabilities.

Recently, from the launch of Alchemy Pay's RWA platform to the planned launch of Alchemy Chain, a public stablecoin chain, it may show Alchemy Pay's strategic ambition to move from a payment gateway to a global crypto financial center.

You can refer to the development path of Alipay. Alipay uses payment as the entrance, superimposes highly sticky financial and life services, and eventually becomes a "financial super app" covering financial management, credit, and insurance.

Alchemy Pay's strength also lies in its global payment network. Similar to Alipay, it is penetrating into more financial services through a three-step strategy of "payment + assets + infrastructure".

Unlike traditional payment giants such as Alipay, the Alipay ecosystem is built under a centralized regulatory framework and relies on the scale of local users and policy dividends. The breakthrough point of Alchemy Pay lies in the decentralized global market, and there may be a larger market space in the future.

Through this strategic transformation, Alchemy Pay may be expected to gradually become a global asset gateway and crypto financial center serving global users and connecting traditional and digital finance.