The Indonesian central bank issued a license to execute remittances and financial transfers in partnership with a local fintech company, Berkah Digital Pembayaran, to the Alchemy Pay cryptocurrency payment service. This license will allow Alchemy Pay to work with Berkah Digital Pembayaran. Both Alchemy Pay and BDPay have been granted permission to use this license, which allows them to improve the payment methods they provide to customers and reduce their overall operating expenses.

In addition to providing local and cross-border remittance services, customer payroll services, and transfers through bank APIs, Berkah Digital Pembayaran is a payment service provider. According to information obtained from Bank Indonesia’s official website, the company was recently listed as a payment service provider that falls under license category three. Both retail and business customers can make transfers to any of the 136 banks in Indonesia using the BDPay platform.

Due to the acquisition With this license, the cryptocurrency onramp offered by Alchemy Pay can now allow payments made with Mastercard, Visa, Google Pay, Apple Pay and other regional mobile wallets such as BDPay. Right now, operations take place in 173 countries, and the organization is known for its relationships with big crypto giants like the Binance exchange.

The license acquisition is a great achievement for Alchemy Pay as the company works to expand its service offerings across Asia and strengthen its position in the cryptocurrency payments industry. The firm started operations in 2018 in Singapore and manages its own utility token known as Alchemy Pay (ACH), which is issued on the Ethereum blockchain. The company was founded in 2018. The Automated Clearing House (ACH) system is an essential component of the Alchemy Pay network, as it is responsible for the provision of transaction fees, network incentives, and other operations.

In conclusion, the license granted by the Indonesian central bank to Alchemy Pay and BDPay enables companies to offer enhanced payment methods while reducing their operating expenses. This license is a significant milestone for Alchemy Pay as it continues to expand its service offering in Asia and enhances its position within the bitcoin payments industry.