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Alchemy Pay has expanded its On Ramp service—which enables users to purchase cryptocurrencies with fiat—to Bangladesh. The company has integrated the country’s four largest mobile financial services platforms, paving the way for users to buy crypto assets directly using local digital payment methods.

Leading local payment platforms join Alchemy PayThe new integration enables payments through bKash, Nagad, Rocket, and Upay. Widely used for everyday transactions, these platforms allow users in Bangladesh to access digital assets without the need for international payment methods or traditional bank transfers.

Alchemy Pay emphasized that the move is designed to lower barriers in the payment process and make crypto services more accessible by leveraging local wallets that are already familiar to Bangladeshi users.

Rather than changing local payment habits, the company underlined that its expansion in Bangladesh connects established and trusted mobile wallet infrastructures with crypto purchasing options.

Within Bangladesh’s digital payments ecosystem, bKash stands out with over 50 million registered users. Nagad is one of the fastest-growing platforms, Rocket offers bank-backed mobile finance services, and Upay has significantly extended its coverage in both urban and semi-urban areas.

PlatformKey featurebKashOver 50 million registered usersNagadRapidly growing payment platformRocketBank-backed mobile finance serviceUpayExpanding network in urban and semi-urban areasPart of a broader South Asia expansion strategyThis move furthers Alchemy Pay’s reach in South Asia, enabling direct connections to Bangladesh’s dominant mobile payment networks on behalf of cryptocurrency exchanges, wallets, decentralized applications, and Web3 platforms operating in the region.

Positioned as a payment bridge between fiat currencies and crypto, Alchemy Pay focuses especially on markets with limited access to traditional banking or high adoption of mobile wallets.

Mini glossary: “On Ramp” refers to a payment gateway infrastructure that allows users to buy crypto assets with their local currency. “Web3 platforms” are internet services operating on blockchain technology, supporting wallet connections and digital asset transactions.

Strengthening focus on emerging marketsThe company stated that its move into Bangladesh aligns closely with its growth strategy focused on emerging markets. Previously, Alchemy Pay expanded local payment coverage in Indonesia, Thailand, Malaysia, Brazil, Mexico, Argentina, and the Philippines.

According to the company, Bangladesh’s strong mobile money adoption provides ready-made infrastructure for firms that offer crypto acquisition services, making it easy for users to join the system through familiar payment habits.

Bangladesh is considered one of the most robust mobile money markets in South Asia. Digital wallets are widely used for remittances, bill payments, and retail transactions throughout the country. This structure gives an edge to platforms aiming to reach those with limited access to conventional banking services.

Recently, Alchemy Pay has obtained various regulatory approvals and registrations in jurisdictions including the US, Canada, Indonesia, South Korea, Lithuania, and Hong Kong. The company also acts as an authorized service provider for Visa and participates in the Mastercard Crypto Partner Program.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

TLDR: Alchemy Pay and HTF Securities secured an SFC Type 1 license upgrade covering virtual asset dealing services in Hong Kong.  The SFC Type 1 and Type 4 license upgrades are complete, while the Type 9 asset management upgrade remains in progress.  Alchemy Pay plans to launch its own stablecoin and develop the Alchemy Chain stablecoin-based ecosystem in Hong Kong.  Alchemy Pay holds over 15 active licenses globally, spanning the US, Australia, South Korea, Europe, and Southeast Asia. Alchemy Pay and HTF Securities Limited have completed a major regulatory milestone in Hong Kong. The Hong Kong Securities and Futures Commission approved an upgrade of HTF Securities’ Type 1 license.

The extension now covers virtual asset dealing services for both professional and retail investors. This follows a previously completed Type 4 license upgrade. The Type 9 license upgrade is still in progress.

HTF Securities Advances Its Full-Spectrum Licensing Portfolio The SFC Type 1 license covers dealing in securities within Hong Kong’s regulated financial market. Its upgrade adds virtual asset dealing to HTF Securities’ approved scope of services.

HTF Securities Limited, with Central Entity No. BNO909, operates under direct SFC regulation. Alchemy Pay made a strategic investment in the firm to advance its Hong Kong presence.

The SFC’s Type 1, 4, and 9 licenses form a core trio for comprehensive financial services. They cover securities trading, investment advisory, and asset management activities respectively.

Together, they represent one of the broadest regulatory permission sets available in Hong Kong. The SFC also allows holders of these licenses to apply for virtual asset business extensions.

Alchemy Pay confirmed the progress of its licensing efforts following the announcement, stating: “We have completed the Type 1 & Type 4 license upgrade, while the Type 9 license upgrade is still in process.” The company views this as part of a phased approach to building a full regulatory framework in Hong Kong.

🇭🇰 #AlchemyPay, together with SFC-licensed HTF Securities Limited, is pleased to announce the successful uplift of SFC Type 1 license to include virtual asset trading services.

With this upgrade secured, we have completed the Type 1 & Type 4 license upgrade, while the Type 9… pic.twitter.com/j7WoU17M0n

— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) March 26, 2026

Alchemy Pay and HTF Securities had already secured the Type 4 (Advising on Securities) upgrade earlier. Both parties are now pursuing a further application for the Type 9 license upgrade.

This upgrade would extend virtual asset services into the asset management category. The application is currently being reviewed by the SFC.

With the Type 1 and Type 4 upgrades now in place, Alchemy Pay strengthens its regulatory standing. The company has positioned itself as a bridge between traditional finance and digital assets.

These licenses allow it to serve a wider base of investors across the region. Each regulatory step builds greater trust with both institutional and retail participants.

Stablecoin Strategy and Global Compliance Drive Further Growth The license achievement also supports Alchemy Pay’s planned stablecoin initiatives in Hong Kong. The company is working toward launching its own stablecoin in the near term.

It is also developing the Alchemy Chain stablecoin-based ecosystem as part of this plan. These efforts align with Hong Kong’s active push to regulate digital assets and stablecoins.

In addressing its long-term direction, Alchemy Pay stated that it “remains committed to building the bridge between traditional finance and digital assets in Asia’s leading financial hub.”

The company added that it is focused on strengthening its roots in Hong Kong as the regulatory environment continues to evolve.

Globally, Alchemy Pay holds 15 Money Transmitter Licenses across the United States. The company also carries a Digital Currency Exchange Provider registration in Australia.

It holds an Electronic Financial Business registration in South Korea as well. Additional licenses cover key markets across Europe and Southeast Asia.

The Hong Kong milestone supports Alchemy Pay’s broader goal of enabling fiat-to-crypto conversions worldwide. These services target key financial markets where regulatory clarity is advancing.

The company’s compliance record now spans more than 15 active jurisdictions. Its long-term strategy centers on expanding payment services across Asia and other emerging markets.

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Alchemy Pay has given users around the world a simpler way to move cash onto blockchains by adding StraitsX’s $XSGD and $XUSD stablecoins to its fiat on-ramp. The payment gateway, already known for connecting traditional payment rails to crypto networks, now lets people in 173 countries buy these fiat-backed tokens with familiar methods like Visa and Mastercard, Apple Pay and Google Pay, local bank transfers and mobile wallets across more than 50 fiat currencies.

That might sound technical, but the practical effect is straightforward: people and businesses who want stable, regulator-friendly crypto exposure can now convert local currency into $XSGD and $XUSD without jumping through hoops. For many users, especially institutions that care about compliance and settlement certainty, this removes a major friction point between bank accounts and stablecoins.

StraitsX positions itself as a settlement layer built for stablecoins. Its $XSGD and $XUSD are fully reserved, fiat-backed tokens intended to make cross-border payments and liquidity flows smoother. Importantly, both coins are recognised by the Monetary Authority of Singapore as being substantively compliant with the regulator’s forthcoming Single-Currency Stablecoin framework, a signal that they were designed with oversight and real-world integration in mind. StraitsX also works with established banks such as Standard Chartered and DBS, which helps the project stitch together traditional finance and on-chain liquidity.

Faster Fiat-to-Crypto Flows For Alchemy Pay, the listing is part of a broader push to mainstream crypto payments. The company has built a global network underpinned by an array of regulatory approvals, including ten U.S. Money Transmitter Licenses and permissions across Southeast Asia, Korea, Europe and the U.K. That licensing footprint matters: it gives payment partners and customers confidence that when they move fiat into the crypto world, those flows meet regulatory expectations.

Behind the scenes, Alchemy Pay is also building new infrastructure of its own. The company is developing Alchemy Chain, a Layer-1 blockchain focused on stablecoin payments, and plans to launch a testnet soon alongside its own stablecoin. That roadmap suggests Alchemy Pay sees the future of payments as a mix of traditional rails and purpose-built blockchain layers working together.

The addition of $XSGD and $XUSD broadens the choices available to users who want a compliant path into digital currencies. It’s a reminder that the stablecoin ecosystem is maturing: issuers are working with banks and regulators, and payment gateways are trying to make on-ramps as seamless as possible. For end users, this means fewer steps, less confusion, and a clearer route from everyday money to programmable money. This integration is expected to accelerate adoption by firms and consumers seeking reliable digital payment options.

As stablecoins become more central to cross-border transactions and digital commerce, partnerships like the one between Alchemy Pay and StraitsX illustrate a simple idea playing out in the market: when regulated issuers and established payment providers cooperate, moving between fiat and crypto stops feeling like a technical stunt and starts feeling like an everyday utility.

AUTHOR

Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.