Fiat-crypto payment gateway Alchemy Pay obtained a license from the Central Bank of Indonesia to offer remittances and fund transfer services in the country.
The Indonesian bank issued the license jointly to Alchemy Pay and the local fintech firm PT Berkah Digital Pembayaran.
Alchemy Pay said the new license would help it accelerate crypto adoption in Asia.
- PT Berkah Digital Pembayaran will allow Alchemy Pay to utilize its BDPay service as part of the collaboration.
- BDPay will directly connect with 136 bank APIs, while Alchemy Pay will provide the on-ramp service for users to flow the economic value of the fiat money into crypto assets.
- Through the two firms' collaboration, users can transfer their funds and buy crypto by using fiat currencies in a quick, secure, and low-cost way around the region.
- Alchemy Pay's native token, ACH, increased by over 7% in value after the Indonesian license's announcement.
Earlier in February, Alchemy Pay also partnered with Google Pay to allow Android phone users to buy crypto directly with their bank cards, triggering ACH's 250% value increase over the last 30 days.
