Blockchain initiative VeChain reportedly revealed a new alliance forged with crypto payment services Alchemy Pay, enabling VET token utilization as payment in more than two million stores across 70 different nations.

Specifically, the development was reportedly issued simultaneously with its inclusion as a supported token on the freshly rolled out Binance Bridge 2.0.

VeChain reportedly made its presence in the first group of tokens to receive the support from the new Binance Bridge 2.0, offering a new measure for bridging tokens from Ethereum, to be used on the BNB Chain – previously carried the name “Binance Smart Chain”.

The rest of the bridged tokens are reportedly The Sandbox (SAND), ApeCoin (APE), JasmyCoin (JASMY), Decentraland (MANA), ConstitutionDAO (PEOPLE), MovieBloc (MBL) and LooksRare (LOOKS).

VeChain additionally disclosed details related to the update of it becoming a member of the Blockchain Infrastructure Alliance (BIA) – an organization aims to establish connections among industry professionals, as well as offering financial support via fundraising for blockchain-associated research initiatives.

“By working together with this group of leading blockchains we can develop understanding and mutually support each other to lift the industry as a whole.” Sunny Lu, current Head of VeChain, reportedly expressed a warm attitude towards the new affiliation with the BIA.

VeChain reportedly functions as a supply chain tracking network, introduced in 2015, which aims to combine physical tracking with blockchain record keeping.

At the moment, VeChain is reportedly collaborating with a vast array of organizations to provide logistics and supply chain-focused tracking solutions.