Alchemy Pay has officially entered Australia’s crypto payments market by integrating PayID, marking a major milestone in its global expansion strategy.
This comes on the heels of the company’s successful registration with AUSTRAC as a Digital Currency Exchange Provider, granting it regulatory clearance to operate legally within the country.
The PayID integration
By adding support for PayID—a real-time interbank payment system—Alchemy Pay can now facilitate instant crypto-to-fiat transactions directly to and from Australian bank accounts.
PayID, which is widely used across Australia’s banking system, simplifies payments by allowing users to transfer funds using easily recognisable identifiers such as email addresses and phone numbers.
As a result of this integration, Australian users can now enjoy a streamlined onboarding experience with faster processing times, reduced transaction fees, and higher success rates.
This move signals Alchemy Pay’s commitment to not only meet but exceed the regulatory standards required to operate in Australia’s tightly regulated financial ecosystem.
Given the country’s stringent financial compliance rules, entering the market is no small feat for any crypto payment service provider.
However, Alchemy Pay’s AUSTRAC approval places it among the first in the industry to gain such credentials, providing it with a significant first-mover advantage.
The integration of PayID enhances the user experience by eliminating the need for traditional bank account numbers, replacing them with more intuitive and user-friendly identifiers.
Furthermore, this integration represents a broader strategic effort by Alchemy Pay to extend its reach across compliant markets worldwide while offering localised solutions tailored to regional needs.
In Australia, where regulatory scrutiny has long hindered the growth of crypto payment infrastructure, Alchemy Pay’s entry provides much-needed legitimacy and operational efficiency.
The company believes this advancement opens doors for local crypto projects and businesses to participate in a more inclusive and scalable financial ecosystem.
Transitioning into this market also reflects Alchemy Pay’s technical adaptability and willingness to integrate key local payment systems to promote mass crypto adoption.
While PayID becomes a pivotal feature in its Australian operations, the company has already demonstrated similar localised strategies across other markets.
In Europe, it supports widely used systems such as SEPA Instant, Faster Payments, Bancontact, Skrill, and BLIK to facilitate smooth fiat-to-crypto conversions.
Across Southeast Asia, Alchemy Pay’s network includes regional leaders like Dana, OVO, QRIS, GrabPay, GCash, and Thai QR, proving its commitment to tailored, regional service delivery.
These strategic integrations illustrate the company’s core mission to connect traditional finance with decentralized systems in a seamless and compliant manner.
Alchemy Pay offers crypto on and off-ramps in over 170 countries
Founded in Singapore in 2017, Alchemy Pay has built a reputation as a trusted on and off-ramp provider for fiat and crypto transactions across more than 170 countries.
Its services extend beyond payment infrastructure to include Web3 Digital Banking, NFT Checkout, and multi-fiat account management tools for businesses and developers.
By enabling crypto purchases through conventional fiat methods, Alchemy Pay significantly lowers the entry barrier for users entering the Web3 space.
The launch in Australia also positions the company as a catalyst for innovation in the country’s emerging crypto economy, bridging local financial systems with global digital assets.
Although competition in the crypto payments space remains intense, Alchemy Pay’s regulatory success and technical integrations give it a strong edge in trust and functionality.
As demand for compliant, user-friendly crypto payment services grows globally, Alchemy Pay’s PayID-supported ramp in Australia is set to play a pivotal role in shaping the future of crypto finance.
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https://invezz.com/news/2025/05/26/alchemy-pay-enables-bank-crypto-payments-in-australia-with-payid-integration/
