17.8 C
New York
October 4, 2023

Crypto Alchemy Pay Obtains License In Indonesia

Crypto gateway platform Alchemy Pay provides an integrated solution for merchant networks, developers, and financial institutions. Recently, Alchemy Pay and a fintech firm, PT Berkah Digital Pembayaran, jointly received a license from the Central Bank of Indonesia.

This license has been granted to facilitate seamless remittances and fund transfers. The platform is working towards making crypto accessible with the help of Google Pay’s integration. Alchemy Pay will now provide these entities with the ability to payout to users and clients all over Asia to reduce the operating costs of the payments services.

Alchemy Pay was established in June 2022 in Singapore. Mobile wallets have become more popular as a payment method, Apple Pay (supported by Alchemy Pay) and Google Pay hold a large share of the mobile wallet market.

Additionally, Google Pay is widely accessible by Android and iPhone users, which enables easy payments. With Alchemy being added to Google Pay, the purchases made via crypto are far more accessible and convenient than before. Alchemy has made it simple and convenient to buy cryptocurrency with fiat money.

From the data given on the official website of the Bank of Indonesia, Berkah Digital and Alchemy Pay have been listed as payment services under license category 3. Berkah Digital is a platform that offers client payroll service and transfers via bank application programming interfaces (APIs), which let users transfer money to 136 banks in Indonesia.

Alchemy Pay’s crypto platform supports payments through Mastercard, Visa, Google Pay, Apple Pay, and other mobile wallets like Berkah Digital Pay. The payment platform currently operates in 173 countries.

Alchemy Pay Tied To Big Crypto Networks

Alchemy Pay was tied to big networks and services such as Binance, Avalanche, Polygon, Algorand, and Arbitrum. Alchemy Pay tries to create a friendly payment system that tries to connect crypto with people on an everyday basis. Alchemy Pay’s integration with Ethereum Name Service and support for Binance have been well received by crypto users.

At the moment, Alchemy Pay supports Google Pay in more than ten countries and includes currencies such as USD, EUR, KRW, and NZD. Users who are outside of the US are now able to make payments in US dollars.

Alchemy Pay has its own utility token, which has been issued on the Ethereum blockchain. The token is called ACH (Alchemy Pay), and it is a huge part of the Alchemy Pay network, which provides transaction fees along with network rewards and other processes.

Alchemy Pay’s On & Off Ramp has been integrated by many crypto-related platforms, including decentralized applications, decentralized exchanges (DEXs) and centralized exchanges (CEXs), crypto wallets, NFT marketplaces, play-to-earn gaming websites, and DeFi protocols. The payment gateway is an entirely customizable solution that can be implemented through an API or plugin with full technical support, which is being provided by one of the leading payment gateway providers.


Bitcoin was priced at $23,300 on the one-day chart | Source: BTCUSD on TradingView

Featured Image From UnSplash, Chart From TradingView.com

Related posts

Dogecoin Jumps 5% After Burger King Hints At Mysterious ‘BiteCoin’


FTX Seeks Out Safe Haven For Remaining Crypto Assets With Galaxy Digital


How This Game-Changing Technology Is Revolutionizing Bitcoin Transactions

USDC Hits All-Time Low As Investors Pull Out Funds From The Stablecoin


Is The US Treasury Doing Exactly What Binance Was Accused Of In Q1 2023?

OpenSea Announces 0% Trading Fees, Cuts Creator Earnings


Leave a Comment

Bitcoin (BTC) $ 27,567.39
Ethereum (ETH) $ 1,643.56
Dogecoin (DOGE) $ 0.060988
Shiba Inu (SHIB) $ 0.000007
Litecoin (LTC) $ 64.28
Ethereum Classic (ETC) $ 15.55
DeFiChain (DFI) $ 0.287808