SINGAPORE, May 29, 2023 /PRNewswire/ — Alchemy Pay, the leading provider of payment solutions bridging fiat and cryptocurrency, has joined forces with Rupiah Token (IDRT), the most widely adopted stablecoin for the Indonesian Rupiah. IDRT token is now supported for use on Alchemy Pay’s fiat-crypto ramp payment system, which facilitates transactions using Visa and MasterCard in 173 countries, allows for numerous domestic transfers, and supports popular mobile wallets in emerging markets. By leveraging Alchemy Pay’s extensive network comprising over 300 fiat payment channels, the purchase of IDRT token is able to go beyond cards and access local mobile wallets.
IDRT operates on a 1:1 basis with the fiat currency Indonesian Rupiah, allowing users to directly utilize Indonesian Rupiah on the Ethereum, BNB Smart Chain and Polygon Network. Serving as the initial Ethereum-based token (ERC-20), IDRT aims to mirror the value of the Indonesian Rupiah. By being built on the Ethereum Blockchain, IDRT inherits favorable attributes such as speed, security, and transparency. Presently, IDRT can be used for trading purposes on various exchanges like Pintu, Binance, Uniswap, PancakeSwap and more.
Earlier in February, Alchemy Pay and PT Berkah Digital Pembayaran, a prominent fintech firm which is known primarily for BDPay, jointly revealed their successful acquisition of an Indonesian license issued by the Central Bank of Indonesia, which can be found by searching ‘Berkah Digital’. The license grants the two entities permission to engage in remittances and facilitate the transfer of funds, while also assisting in reducing the operating costs of payment services.
This collaboration with IDRT serves as an add-on for Alchemy Pay’s efforts to expand its business presence in Indonesia. It not only enhances the utility of IDRT tokens but also contributes to the global adoption of innovative payment solutions that promote financial inclusivity and empower individuals worldwide. By becoming usable on Alchemy Pay’s fast-growing payment network, IDRT can now be spent by users around the globe in a number of scenarios.
About Alchemy Pay
Founded in Singapore in 2018, Alchemy Pay is a payment gateway that seamlessly connects crypto and global fiat currencies for businesses, developers, and users. The Alchemy Pay Ramp Solution is integrated, via plugin or API, with platforms and dApps, providing an easy onramp from fiat currency to crypto. Alchemy Pay’s supports payments from 173 countries – Visa, Mastercard, Discover, Diners Club, Google Pay, Apple Pay, popular regional mobile wallets, and domestic transfers with a focus on emerging markets. Its offramping capability remits to users in 50+ local fiat currencies. ACH is the Alchemy Pay network token on Ethereum and BNB Chain.