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Alchemy Pay: Plans to launch L1 public chain Alchemy Chain

Crypto payment provider Alchemy Pay has announced plans to launch its own L1 public blockchain, which the company says will target large-scale business applications. The L1 blockchain will be called Alchemy Chain and is built on the Solana (SOL) virtual machine architecture. According to the Dec. 11 announcement, the new L1 will offer a payment system that allows users to transact using both fiat and cryptocurrencies.