Alchemy Pay and Berkah Digital obtain license from Central Bank of Indonesia

Wednesday 1 March 2023 12:13 CET | News

Singapore-based crypto gateway Alchemy Pay and fintech Berkah Digital have jointly obtained Indonesian licenses to operate remittances and fund transfers.


The licences will increase the ability for these entities to payout to end users and clients across Asia as well as reduce the operating costs of their payment services. Berkah Digital has been listed as a payment service provider - license category 3 on Bank Indonesia's official site.

Singapore-based crypto gateway Alchemy Pay and fintech Berkah Digital have jointly obtained Indonesian licenses to operate remittances and fund transfers.

The two company’s operations in Indonesia

Alchemy Pay is known for its provision of on & off-ramps, crypto payments, and NFT checkout to Web3 platforms. Berkah Digital operates from Indonesia in the field of financial technology and is known primarily for BDPay that helps clients to transfer to multiple accounts and electronic money at a lower price than conventional methods and provides a virtual account for the top-up method.

Launched in 2021, BDPay enables personal transfers (payment acceptance) and corporate transfers (payments). It also offers clients payroll services and transfers via API. Certified by ISO/IEC 27001:2013, it directly connects with 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 multiple 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 is taking crypto accessibility to the next level with direct-to-customer services, its on & off-Ramp and NFT checkout. These ramp payment solutions have been integrated by numerous 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 . Jointly obtaining licences with PT Berkah Digital Payments will greatly add to its capabilities in Asia, where crypto adoption is high.

The success of Alchemy Pay has been 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 realise its payment solutions.

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Keywords: fintech, crypto, payment gateway, remittance, money transfer, central bank
Categories: Payments & Commerce
Companies: Alchemy, Berkah Digital
Countries: Indonesia
This article is part of category

Payments & Commerce



Berkah Digital

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