Alchemy Pay, a foremost provider of fiat-to-crypto gateway solutions, has broadened its payment alternatives for customers in the Philippines by integrating local mobile digital wallets and bank transfer options. This integration enables users to acquire cryptocurrency employing the local currency, Philippine Peso.
Currently, Alchemy Pay facilitates transfers from all Philippine banks and also supports prominent e-wallets like Maya, Coin.ph, and GrabPay.This development in payment avenues equips Filipino users with enhanced services and a more diverse selection of payment methods.
For example, users can now buy cryptocurrency via major domestic banks such as BDO Unibank, Bank of the Philippine Islands (BPI), Land Bank of the Philippines (LBP), among others. This diversification leads to increased transaction success rates and lower fees, thus yielding a more streamlined and advantageous experience for users.
Maya, Coin.ph, and GrabPay are well-received digital wallet solutions in the Philippines, known for their convenience, dependability, and security. Maya is backed by Maya Philippines, Inc., the nation’s sole comprehensive digital payments firm, and Maya Bank, Inc. for digital banking services.
Both are regulated by the Bangko Sentral ng Pilipinas, the Philippines’ central bank. Coin.ph is a prominent name in the cryptocurrency sector in the Philippines, with a substantial user base exceeding 16 million. GrabPay has a presence across Southeast Asia, serving clients in various countries including the Philippines, and is committed to elevating economic mobility in the region.
Founded in Singapore in 2018, Alchemy Pay has always been concentrated on developing markets and has experienced success not only in the Philippines but also in other areas. It has garnered a significant market presence in regions such as Southeast Asia and Latin America, functioning as a bridge for payment solutions.
In these markets, Alchemy Pay is compatible with commonly used local payment methods including Pix, SPEI, GCash, Dana, OVO, and PayNow among others. Through the introduction of additional payment channels and making the entry process more user-friendly, Alchemy Pay is fostering greater user engagement with cryptocurrencies.
Sheikh is a co-founder and key member of the Wiki Crypto team, known for his expertise in macroeconomics, monetary policy, and fundamental analysis of both traditional and cryptocurrency assets. He is also well-versed in the future of blockchain technology and the current state of cryptocurrency regulation in Eastern Europe and the Middle East. In addition, Sheikh has a background in online news media and Digital Marketing and is skilled in building a multi-language crypto news outlet with a global reputation.