You are here: Home/ News/ Alchemy Pay & PT Berkah’s Crypto Remittance Service Gets Green Light In Indonesia
Singapore-based fiat-crypto gateway Alchemy Pay, and Indonesian fintech firm, PT Berkah Digital Pembayaran have jointly obtained licenses issued by the Central Bank of Indonesia to operate remittances and fund transfers.
The move will allow the entities to payout to end users and clients across Asia more efficiently and reduce the operating costs of payment services.
According to the Medium blog post, PT Berkah Digital Pembayaran has been listed as a Payment Service Provider – License Category 3 on Bank Indonesia’s official site. This enables it to operate in the financial technology field, providing services such as transfers to multiple accounts, electronic money, and payroll services.
The firm also offers clients a virtual account for top-up methods and has agents distributed across Indonesia. Alchemy Pay’s on-ramp supports Mastercard, Visa, Google Pay, Apple Pay, and regional mobile wallets.
The payment gateway’s ramp payment solutions have been integrated into numerous Web3 platforms and digital currency token issuers worldwide.
However, Indonesia has been ranked 13th among 26 countries in terms of digital assets adoption, as per Finder’s Crypto Adoption November 2022 report.
The report has surveyed a total of 389,345 people from selected countries, out of which 17,738 responses were from Indonesia since April 2022. Indonesia has a crypto ownership rate of 15%, higher than the global average of 15%
Alchemy Pay’s joint license with PT Berkah Digital Pembayaran will expand its capabilities in Asia, where crypto adoption is high. It supports regional payment methods in emerging markets such as GCash in the Philippines, OVO and Dana in Indonesia, and Pix in Brazil.
Crypto Gateway Alchemy Pay’s Global Network Of Partners
Alchemy Pay’s success stems from its extensive network of payment and remittance partners, acquirers, token issuers, blockchain networks, exchanges, and platforms across all industry sub-sectors.
It is on & off-ramps, crypto payments, and NFT checkout support particularly high utility in Asia and Latin America. Alchemy Pay’s direct-to-customer services enable users to purchase crypto quickly, easily, and securely using fiat currency funds.
However, Alchemy Pay’s global network of partners, on & off-ramps, crypto payments, and NFT checkout make it a leading player in the industry, supporting numerous regional payment methods in emerging markets.
Related Reading | Bridging The Gap: Uniswap DAO Weighs Security Risks Of Cross-Chain Protocols
Read More
It was announced recently that Alchemy Pay & PT Berkah Abadi’s crypto remittance service has been given the official green light to operate in Indonesia. This news marks a milestone for the growing crypto remittance sector in the country, as it marks the first time a crypto remittance service has been officially allowed to operate within the country’s borders.
The service provided by Alchemy Pay & PT Berkah will allow for money transfers between countries to be conducted quickly, securely, and cost-effectively. This will be of major benefit to Indonesia, as it will give the country a much-needed boost to its economy by reducing the costs associated with international money transfers.
Alchemy Pay & PT Berkah is using a sophisticated blockchain-based platform in order to ensure the highest level of security for the transfers, while still providing easy-to-understand interfaces for both customers and service providers. They are also taking special measures to ensure that the funds being transferred meet all of the necessary standards of the Indonesian government, so customers can rest assured that the money they send is safe and secure.
The Indonesian government has been taking steps to become more open to the idea of cryptocurrency and blockchain, and this initiative is just one of many initiatives that have been taken to move toward a more open, regulated, and safe crypto environment. The hope is that this will lead to more innovative technology and services, helping to create a more stable and secure digital economy.
In short, Alchemy Pay & PT Berkah’s crypto remittance service has just been given the green light by the Indonesian government, which is a major step forwards for the country’s crypto sector and economy. This service will bring the much-needed benefits of reduced costs, secure transactions, and easy-to-understand interfaces for customers and service providers alike. The hope is that this will be just the beginning of a wave of new, innovative digital services and technology, helping to create a better and more secure digital economy in Indonesia.
