Alchemy Pay has recently shared an update in regard to the expansion of its operational reach. The cryptocurrency gateway has confirmed that it has acquired an operational license in a new country.
Permission to Enter Indonesia
As confirmed by the company officials, they now have access to the Indonesian market. They have reportedly gained access from regulatory authorities based in Indonesia.
The latest reports confirm that Alchemy Pay has acquired the license from the Indonesian central bank. Following the acquisition of the license, the firm will be able to operate in Indonesia and offer services to the locals in the country.
They will be offering them the ability to carry out fund transfers as well as operate remittances. The firm will not be doing it alone as it will be offering its services in cooperation with a local fintech firm.
Alchemy Pay officials have confirmed that the name of the particular firm is Berkah Digital Pembayaran.
Alchemy Pay’s Announcement
It was on February 27, when the officials at the company made the announcement of successfully acquiring the license.
With the acquisition of the license, the firms will be able to offer joint services to local individuals and businesses in the country.
The services will be a joint venture between Alchemy Pay and BDPay, which is the Berkah Digital platform.
With their joint efforts, they will be able to offer their customers reduced transactional costs and multiple methods for payouts. They will be able to reduce their operational costs as well.
Alchemy Pay to Expand Throughout Asia
Going forward, Alchemy Pay would continue expanding its services in Indonesia and then grow to the outer region. The company wants to offer its fiat-to-crypto payment services to other parts of the region as well.
As communicated by the officials, they want to continue increasing their operational influence throughout the Asian continent. This way, they want to gain more prominence in the particular region before they move on to the next one.
The company executives were glad to share their achievements and the recent acquisition of the operational license in Indonesia.
They revealed that they have big plans for operating in Asia and Indonesia has given them the opportunity they longed for.
Information about Berkah Digital
Berkah Digital is known for being a major payment service provider based in Indonesia. The company has gained enough prominence to make it into the list of payment service providers that are readied by Bank Indonesia.
The list is available on the website of the respective bank and it shows the particular provider having a category three license.
The most popular product/service offered by the Berkah Digital platform is the BDPay platform. It is known for offering cross-border remittance services to corporate and retail clients in Indonesia.
In addition to the above, the firm also offers users the ability to carry out transfers and have access to payroll services through the banks.
Using the platform, users can transfer payments to 136 banks that are based in Indonesia. At the moment, Alchemy Pay has access to multiple payment methods.
The most prominent payment methods include Apple Pay, Google Pay, Visa, and Mastercard. The application also lets users carry out transactions using mobile-based payment applications.
The platform is already used in several countries around the world. As of now, there are over 170 countries where the platform is being offered.
Alchemy Pay was launched back in 2018 and is known for offering crypto-to-fiat payment services. The company is known for undergoing several partnerships with some of the major entities in the crypto industry.
One of the most prominent partnerships Alchemy Pay has formed is with the largest crypto exchange, Binance. The platform even has its own utility token that circulates through its ecosystem.
The particular token is Alchemy Pay (ACH), which reportedly operates through the Ethereum network.