Singapore-Based Alchemy Pay Secures Remittance and Fund Transfer Services Licenses in Indonesia

Fiat-crypto gateway payment provider Alchemy Pay teamed up with fintech firm Berkah Digital Pembayaran to secure licenses for remittance and fund transfer services from Bank Indonesia.

Alchemy Pay said in a statement that the licenses will enable both entities to enhance their payout methods as well as reduce its operating costs.

According to Bank Indonesia's official site, Berkah Digital has been listed as a payment service provider under the license category 3.

Berkah Digital Pembayaran operates from Indonesia and is known primarily for BDPay which offers remittance services t retail and corporate customers.

The Singapore-based Alchemy Pay is known for its provision of on and off-ramps, crypto payments, and NFT checkout to Web3 platforms.

Alchemy Pay's on-ramp supports Mastercard, Visa, Google Pay, Apple Pay and multiple regional mobile wallets and domestic transfers such as BDPay in 173 countries to allow users to purchase crypto using their fiat currency funds.

Source: Fintech News