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Mercuryo integrates crypto on-ramp with Indonesian banks

Tuesday 23 July 2024 12:00 CET | News

Mercuryo has integrated crypto on-ramp solutions in Indonesia, enabling users to convert their Indonesian rupiah into 40 digital tokens, including BTC, ETH, and USDT. 

 

The payment platform announced the integration of its cryptocurrency ramp solution with Bank Rakyat Indonesia (BRI) and PT Bank Negara Indonesia (BNI). This solution is also now compatible with the Quick Response Code Indonesian Standard (QRIS), a cashless payment system, and the ewallet provider Ovo in Indonesia.  


This integration is expected to allow people in Indonesian to convert their fiat currency into cryptocurrency. Mercuryo stated that local users can now exchange Indonesian rupiah (IDR) for 40 different digital tokens, including Bitcoin (BTC), Ether (ETH), and Tether (USDT). 

Mercuryo has integrated crypto on-ramp solutions in Indonesia, enabling users to convert their Indonesian rupiah into 40 digital tokens, including BTC, ETH, and USDT.

Furthermore, users of BRI and BNI who wish to buy cryptocurrencies will receive a payment identifier and detailed instructions on how to complete the purchase through their respective banks.  

Additionally, Indonesian users can buy crypto using the QRIS system. Mercuryo explained that the company creates a unique QR code for each transaction, facilitating a quick payment process using existing payment methods. 

Meanwhile, users wishing to purchase crypto via Ovo will receive a push notification from the ewallet provider with instructions on how to complete the transaction using their fiat currency. Mercuryo also expressed its intention to integrate its services with local businesses and centralised exchanges in Indonesia. 

Besides retail users, Mercuryo's payment solutions will also be available to businesses. 

Crypto to boost financial inclusion in Indonesia 

Officials from Mercuryo stated that the company's expansion into Indonesia will impact the country’s financial ecosystem. Indonesia is seen as a gateway to the Asian market, which has potential for cryptocurrency growth. 

Mercuryo's on-ramp solutions are expected to enhance access to financial services, particularly for the unbanked and underbanked populations who lack access to traditional payment systems. 

Crypto on-ramp services act as a bridge between digital assets and traditional finance. These services enable users to convert fiat currency into cryptocurrency, allowing them to engage with the crypto ecosystem. 

Source: Link


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Keywords: crypto, Bitcoin, Ethereum, financial services, financial inclusion
Categories: DeFi & Crypto & Web3
Companies: Mercuryo
Countries: Indonesia
This article is part of category

DeFi & Crypto & Web3

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Mercuryo

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