In a strategic partnership, Alchemy Pay, a leading global payment solutions provider, has teamed up with Bitget, a prominent cryptocurrency exchange and Web3 company, to simplify the process of purchasing cryptocurrencies for Indian users. Through this collaboration, Bitget users can now seamlessly convert between the Indian Rupee (INR) and a range of digital assets, including USDT, BTC, ETH, and TRX.

Unlocking Seamless Crypto Accessibility

The partnership aims to streamline the conversion between fiat and crypto assets, offering unparalleled convenience and flexibility to users. Supported payment channels, such as Unified Payments Interface (UPI) and IMPS (bank transfer), ensure a smooth navigation of the crypto landscape across India.

Bitget's Expansion and Alchemy Pay's Market Penetration Strategy

Bitget, boasting a vast user base of over 25 million across 100+ countries and regions, is committed to empowering users with innovative trading tools, including its renowned copy trading feature. Recognizing the growing demand for crypto payment solutions in Southeast Asia, Bitget has now extended its services to India, leveraging Alchemy Pay's ramp solution to meet the needs of its local user community.

Alchemy Pay, founded in 2017 and based in Singapore, has prioritized offering crypto on and off-ramp solutions, particularly in emerging markets. With a strong focus on developing regions, Alchemy Pay has captured significant market share in Southeast Asia and Latin America, facilitating transactions through popular regional payment methods and bank transfers.

India's Regulatory Landscape and CBDC Considerations

In a significant development, the Reserve Bank of India (RBI) Governor, Shaktikanta Das, has announced the central bank's active consideration of making its digital currency available offline. This move underscores India's commitment 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, reflecting the evolving landscape of digital assets within the country.