Alchemy Pay has obtained a license from the central bank of Indonesia to operate remittances and fund transfers in cooperation with the local fintech Berkah Digital Pembayaran.

Announcing the news on Feb. 27, Alchemy Pay noted that the Bank of Indonesia issued the licenses jointly to Alchemy Pay and Berkah Digital’s platform BDPay, enabling the firms to offer better payout methods and reduce associated operating costs.

Fiat-to-crypto payment provider Alchemy Pay is expanding services in Asia by scoring new major regulatory approval in Indonesia.

(By HELEN PARTZ)

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