The crypto space has the potential to push the global economy to the North. However, despite the growing interest and increasing acceptance of cryptocurrencies, the process of purchasing them has remained a significant hurdle for many potential users, specifically for the Philippines. To accelerate the growth of the crypto market in the Philippines, Alchemy Pay has announced the expansion of local payment channels for cryptocurrency purchases. This strategic move is a significant step towards making crypto transactions more accessible and convenient for Filipinos.
Alchemy Pay Expands Fiat-Crypto Ramp Solution In The Philippines
Alchemy Pay, a global leader in providing fiat-crypto gateway solutions, has made a significant stride in expanding its services in the Philippines. The company has broadened its payment options, integrating local mobile e-wallets and bank transfers into its platform. This move allows users in the Philippines to purchase cryptocurrencies using their local fiat currency, the Philippine Peso, thereby simplifying the process and making it more accessible.
Currently, Alchemy Pay supports all domestic bank transfers within the Philippines, a feature that enhances its reach and convenience. In addition, the platform has integrated popular e-wallets such as Maya, Coin.ph, and GrabPay, further diversifying its payment options and serving a wider audience.
This expansion of payment channels is a game-changer for users in the Philippines. It not only provides them with a broader range of payment options but also improves the overall service quality. For instance, users can now purchase cryptocurrencies through major banks like BDO Unibank, Bank of the Philippine Islands (BPI), and Land Bank of the Philippines (LBP). This integration results in higher transaction success rates and lower fees, providing users with a more efficient and cost-effective experience.
The inclusion of popular digital wallets like Maya, Coin.ph, and GrabPay is another significant step. These platforms are widely used in the Philippines and offer reliable, secure, and convenient payment solutions. Maya, backed by Maya Philippines, Inc. and Maya Bank, Inc., is a regulated entity under the Bangko Sentral ng Pilipinas, the central bank of the Philippines. It offers end-to-end digital payments and digital banking services, making it a trusted choice for users.
Coin.ph, a well-established cryptocurrency brand in the Philippines, has a user base of over 16 million individuals, attesting to its popularity and trustworthiness. GrabPay, an international player, aims to enhance economic mobility across Southeast Asia. It serves customers in several countries, including Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam.
Alchemy Pay Aims To Expand Globally
Alchemy Pay aims to bridge this gap between traditional and digital economies with its innovative payment solution. By integrating crypto and fiat payment systems, Alchemy Pay allows users to purchase cryptocurrencies directly using their local currency, eliminating the need for complicated exchange processes.
Moreover, Alchemy Pay’s system is designed to be user-friendly, with a straightforward interface that simplifies the purchasing process. Users can buy cryptocurrencies with just a few clicks, making it an ideal platform for both crypto novices and seasoned investors.
Alchemy Pay, founded in Singapore in 2018, has carved a niche for itself in emerging markets, making significant strides not just in the Philippines but across various regions. The firm has successfully captured a substantial market segment in Southeast Asia and Latin America, acting as a pivotal gateway provider.
In these burgeoning markets, Alchemy Pay facilitates popular regional payment methods like Pix, SPEI, GCash, Dana, OVO, and PayNow. By streamlining the onboarding process and introducing innovative payment alternatives, Alchemy Pay is broadening the reach of cryptocurrencies, attracting a growing user base.
