Alchemy Pay, a global leader in crypto payment solutions, has announced the integration of PayID, a real-time interbank payment service, into its payment network. This integration follows Alchemy Pay’s successful registration as a Digital Currency Exchange Provider (DCEP) with AUSTRAC, Australian government financial intelligence agency, enabling it to compliantly offer fiat-crypto exchange service within Australia. This achievement not only certifies the company’s regulatory compliance but also enhances its ability to serve Australian users with reduced fees, faster processing times, and higher transaction success rates.
PayID is a transformative payment solution in Australia’s financial landscape. Its real-time processing capability has garnered widespread adoption, making it a cornerstone for domestic transactions. By integrating PayID as one of its local payment methods, Alchemy Pay empowers Australian users to seamlessly convert local currency (AUD) into crypto assets. This integration paves the way for a streamlined onboarding process and opens new avenues for Australian crypto projects to drive market expansion.
Australia is known for its rigorous regulatory framework, which has historically posed challenges for crypto payment providers. The scarcity of compliant services has created barriers to mass crypto adoption. Alchemy Pay’s entry into this market as one of the first crypto payment providers to secure AUSTRAC approval demonstrates its commitment to fostering a robust crypto payment infrastructure in Australia. By meeting stringent regulatory requirements, the company solidifies its position as a trusted partner in driving crypto adoption while setting a precedent for industry standards.
Alchemy Pay’s reputation as a leading ramp solution provider is bolstered by its extensive coverage of local payment methods worldwide. Beyond Australia, the company has successfully integrated numerous regional payment channels to cater to diverse user needs. In Europe, Alchemy Pay facilitates seamless transactions for users in the EU and UK by supporting options such as BLIK, Bancontact, Skrill, SEPA Instant, and Faster Payments. In Southeast Asia, its support with popular payment method like Dana, OVO, and QRIS in Indonesia; Maya, Coins.ph, GrabPay, and GCash in the Philippines; Thai QR in Thailand; and Touch’n Go in Malaysia showcase its comprehensive regional presence and commitment to providing localized payment solutions.
As one of the first batch of providers to establish a foothold in the Australian market, Alchemy Pay is laying the groundwork for an inclusive and scalable crypto payment ecosystem. This regulatory milestone, coupled with the support of PayID, underscores the company’s dedication to accelerating crypto adoption in Australia. By enabling local users and businesses to access secure, efficient, and compliant payment solutions, Alchemy Pay is not only addressing existing market gaps but also paving the way for future innovation.
About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off-Ramp, Web3 Digital Bank and NFT Checkout, Alchemy Pay supports payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. Our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. Additionally, the NFT Checkout enables direct purchases of NFTs using fiat payment methods. ACH is the Alchemy Pay network token on the Ethereum blockchain.
