India Crypto Purchase Simplified Amid Alchemy Pay & Bitget Partnership

Alchemy Pay, a global leader in payment solutions, has collaborated with Bitget, a prominent cryptocurrency exchange and Web3 company, to streamline crypto purchases for Indian users. Through Alchemy Pay’s On-Ramp integration, Bitget users can now effortlessly utilize the Indian Rupee (INR) to acquire cryptocurrencies.

This partnership aims to simplify the conversion process between fiat and crypto assets, offering unparalleled convenience and flexibility to users. Supported cryptocurrencies include USDT, BTC, ETH, and TRX, with multiple payment channels like Unified Payments Interface (UPI) and IMPS (bank transfer) ensuring seamless navigation of the crypto landscape across India.

Bitget, boasting a vast user base exceeding 25 million across 100+ countries and regions, stands out as a leading platform committed to empowering users with intelligent trading tools. Notably, its innovative copy trading feature has garnered attention. Recognizing the growing demand for crypto payment solutions in Southeast Asia, Bitget continues to expand its services, bringing localized advantages to the region. Leveraging Alchemy Pay’s ramp solution, Bitget has successfully met the needs of its user community in key Southeast Asian nations and now extends its reach to India, further enhancing accessibility for local users through INR support.

Alchemy Pay’s Market Penetration Strategy

Founded in 2017 and based in Singapore, Alchemy Pay has prioritized offering crypto on and off-ramp solutions, positioning itself ahead of competitors, particularly in emerging markets. With a strong focus on developing regions, Alchemy Pay has captured significant market share, notably in Southeast Asia and Latin America. Across countries like Indonesia, the Philippines, Thailand, and Malaysia, Alchemy Pay facilitates transactions through popular regional payment methods and bank transfers.

To facilitate the onboarding of new users for partners like Bitget, Alchemy Pay has secured compliance licenses across various countries and regions worldwide, underscoring its commitment to regulatory compliance and global expansion. Its recognition by major payment industry giants Visa and Mastercard further solidifies Alchemy Pay’s reputation as a trusted payment service provider.

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India’s Regulatory Landscape and CBDC Considerations

In a significant development within India’s digital assets space, RBI Governor Shaktikanta Das has announced the central bank’s active consideration of making its digital currency available offline. This announcement highlights the Indian government’s proactive stance toward regulating and supporting the yet unregulated sector.

Emphasizing the importance of offline usability akin to physical cash, Shaktikanta reiterated authorities’ efforts to ensure seamless Central Bank Digital Currency (CBDC) transfers, especially in situations where an internet connection is unavailable. This move underscores India’s commitment’s to embracing digital innovation while addressing regulatory concerns and promoting financial inclusion.

The collaboration between Alchemy Pay and Bitget marks a significant milestone in simplifying crypto purchases for Indian users, while Alchemy Pay’s strategic market penetration and India’s regulatory developments reflect the evolving landscape of digital assets within the country.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.