Alchemy Pay to launch crypto card services
Crypto payment firm Alchemy Pay has announced earlier today that it would launch a crypto-linked virtual card acceptable by both Mastercard and Visa. The company revealed this in a press release earlier today."Alchemy Pay, the pioneer of the world's first hybrid crypto-fiat gateway solution which bridges the gap between the fiat and crypto economies, has announced that the company will be launching Virtual Crypto-Linked Cards ("Virtual Cards") to accelerate the adoption of cryptocurrencies in the payment sector," the company wrote.
According to Alchemy, the virtual cards can be linked to digital wallets such as Google Pay and PayPal, and they will support over 40 cryptocurrencies. The virtual cards would also be accepted across millions of merchants on the Visa and Mastercard network. Users can use the virtual cards and Visa and Mastercard outlets, including popular eCommerce platforms such as Amazon and eBay.
Alchemy cards are to be launched in a few months
The crypto payments firm said the development of the virtual cards is currently ongoing. "Development of Alchemy Pay's virtual card services has since been completed and is currently undergoing beta testing in multiple key markets. The company expects the virtual card services to be fully launched at the end of 2021 or early 2022," the firm added.Alchemy is looking to tap into the $1 billion crypto-linked card transactions sector, which is expected to grow rapidly over the next few years. In an effort to boost crypto adoption, Alchemy Pay wants to offer the virtual card services as a full suite white-label service to crypto projects and businesses and traditional institutions planning to integrate crypto-related solutions. Alchemy Pay said it is working on a virtual card that would be accepted at Mastercard and Visa outlets globally.
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