Singapore-based crypto gateway Alchemy Pay and fintech Berkah Digital have jointly obtained Indonesian licenses to operate remittances and remittances.
Singapore-based crypto gateway Alchemy Pay and fintech Berkah Digital have jointly obtained Indonesian licenses to operate remittances and remittances.
The licenses will increase the ability of these entities to pay out to end users and customers across Asia, as well as reduce the operating costs of their payment services. Berkah Digital has been listed as Payment Service Provider – License Category 3 on Bank Indonesia’s official site.
The two company’s operations in Indonesia
Alchemy Pay is known for providing on and off ramps, crypto payments and NFT checkout to Web3 platforms. Berkah Digital operates from Indonesia in financial technology and is primarily known for BDPay which helps customers transfer to multiple accounts and electronic money at a lower cost than conventional methods and provides a virtual account for the top-up method.
Launched in 2021, BDPay enables personal transfers (payment authorization) and business transfers (payments). It also offers customers payroll services and transfers via API. Certified by ISO/IEC 27001:2013, it connects directly to bank APIs, making it easy to transfer to 136 banks in Indonesia. It facilitates same-day transfers and has developed support for community needs with agents distributed across Indonesia.
What the licenses mean for Alchemy Pay and Berkah Digital
Alchemy Pay’s on-ramp supports Mastercard, Visa, Google Pay, Apple Pay and several regional mobile wallets and domestic transfers in 173 countries to allow users to purchase crypto using their fiat currency funds. The fiat crypto payment gateway takes crypto accessibility to the next level with direct-to-customer services, on and off ramp and NFT checkout. These ramp payment solutions have been integrated by a number of Web3 platforms and cryptocurrency token issuers of all sizes.
It supports particularly high utility in Asia and Latin America by supporting highly popular regional payment methods in emerging markets such as GCash in the Philippines, OVO and Dana in Indonesia, and Pix in Brazil. Obtaining licenses jointly with PT Berkah Digital Payments will greatly increase opportunities in Asia, where crypto adoption is high.
The success of Alchemy Pay is built around a global network of payment and remittance partners, acquirers, token issuers, blockchain networks, exchanges and crypto platforms across all sub-sectors of the industry. Like PT Berkah Digital Payments, the team has expertise in traditional finance, fintech payments and blockchain technology to realize their payment solutions.
