Singapore-based fiat-crypto gateway Alchemy Pay, and Indonesian fintech firm, PT Berkah Digital Pembayaran have jointly obtained licenses issued by the Central Bank of Indonesia to operate remittances and fund transfers.
The move will allow the entities to payout to end users and clients across Asia more efficiently and reduce the operating costs of payment services.
According to the Medium blog post, PT Berkah Digital Pembayaran has been listed as a Payment Service Provider – License Category 3 on Bank Indonesia’s official site. This enables it to operate in the financial technology field, providing services such as transfers to multiple accounts, electronic money, and payroll services.
The firm also offers clients a virtual account for top-up methods and has agents distributed across Indonesia. Alchemy Pay’s on-ramp supports Mastercard, Visa, Google Pay, Apple Pay, and regional mobile wallets.
The payment gateway’s ramp payment solutions have been integrated into numerous Web3 platforms and digital currency token issuers worldwide.
However, Indonesia has been ranked 13th among 26 countries in terms of digital assets adoption, as per Finder’s Crypto Adoption November 2022 report.
The report has surveyed a total of 389,345 people from selected countries, out of which 17,738 responses were from Indonesia since April 2022. Indonesia has a crypto ownership rate of 15%, higher than the global average of 15%
Alchemy Pay’s joint license with PT Berkah Digital Pembayaran will expand its capabilities in Asia, where crypto adoption is high. It supports regional payment methods in emerging markets such as GCash in the Philippines, OVO and Dana in Indonesia, and Pix in Brazil.
Crypto Gateway Alchemy Pay’s Global Network Of Partners
Alchemy Pay’s success stems from its extensive network of payment and remittance partners, acquirers, token issuers, blockchain networks, exchanges, and platforms across all industry sub-sectors.
It is on & off-ramps, crypto payments, and NFT checkout support particularly high utility in Asia and Latin America. Alchemy Pay’s direct-to-customer services enable users to purchase crypto quickly, easily, and securely using fiat currency funds.
However, Alchemy Pay’s global network of partners, on & off-ramps, crypto payments, and NFT checkout make it a leading player in the industry, supporting numerous regional payment methods in emerging markets.
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