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 Pay
The 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.
| Platform | Key feature |
|---|---|
| bKash | Over 50 million registered users |
| Nagad | Rapidly growing payment platform |
| Rocket | Bank-backed mobile finance service |
| Upay | Expanding network in urban and semi-urban areas |
Part of a broader South Asia expansion strategy
This 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 markets
The 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.
