Bitget and Alchemy Pay Team Up to Enable Crypto Purchases with Indian Rupee and UPI

Bitget, a Seychelles-based crypto exchange, has announced a new initiative allowing Indian users to purchase cryptocurrencies using fiat Rupees. The exchange has partnered with Alchemy Pay, a Web3 payments solutions platform, to facilitate crypto purchases through the Indian Rupee. This collaboration aims to make crypto buying on international exchanges more accessible to Indian users, thereby increasing the diversity of platforms available for such transactions.

According to an announcement on Bitget’s website, the partnership with Alchemy Pay will enable crypto purchases via IMPS bank transfers and the Unified Payments Interface (UPI). This move is expected to streamline the process of buying cryptocurrencies, making it more user-friendly for Indian nationals.

Alchemy Pay will provide its on-ramp services on Bitget’s trading platform as part of this partnership. This service allows users to leverage fiat options such as Visa, Mastercard, Apple Pay, and Google Pay to purchase crypto assets. This integration is designed to enhance the convenience and accessibility of crypto transactions for users.

In addition to facilitating purchases, Alchemy Pay’s services also include the ability for crypto holders to sell their crypto assets and transfer the proceeds back to their bank accounts in the form of fiat currencies. This feature ensures a seamless and comprehensive crypto trading experience for users on the Bitget platform.

The collaboration between Bitget and Alchemy Pay represents a significant step towards expanding the adoption of cryptocurrencies in India. By enabling easier access to crypto purchases and sales, the partnership aims to attract a broader audience to the crypto market, including those who may have previously been hesitant due to the complexities involved.

Overall, this partnership is expected to not only benefit individual users but also contribute to the broader goal of integrating cryptocurrencies into mainstream financial systems in India. As more users begin to engage with cryptocurrencies through familiar and accessible payment methods, the potential for growth in the Indian crypto market appears promising.

As per a 2023 Chainalysis report India topped the index of 154 countries, that shows most promise in crypto adoption. Nigeria, Vietnam, US, and Ukraine followed India on the index to secure the second, third, and fourth rankings, respectively.