Alchemy Pay to launch virtual crypto-linked cards
Hybrid crypto-fiat platform Alchemy Pay announced Monday, 9th August, that the company will be launching virtual crypto-linked cards. The company expects to fully launch the service late 2021 or early 2022.
This marks another step in bridging the gap between traditional and digital finance.
More on cards by Alchemy Pay
According to the company, the cards will support more than 40 cryptocurrencies, including Bitcoin (BTC), and will be accepted across all merchants on the Visa and Mastercard network, including Amazon and eBay. The product’s development is already complete, with beta tests running in multiple key markets for Alchemy Pay.
In a further effort to increase the number of users, Alchemy Pay has offered the white label service for any crypto firm, as well as firms looking to integrate in the crypto world.
The news came after last week’s announcement of Alchemy Pay partnering with Binance, the world’s largest crypto exchange, to help integrate several major merchants. The two companies will build a payment bridge between cryptocurrency and fiat using Alchemy Pay’s hybrid payment solutions and the Binance Pay wallet. The payment platform has also extended crypto payments to include Binance Coin (BNB) and the stablecoin Binance USD (BUSD).
Visa has been showing clear interest in cryptocurrencies in recent years. According to Visa CEO Al Kelly, the company is actively pursuing more than five major digital asset projects.
At the moment Visa is directly accepting payments in USD Coin (USDC), thanks to a partnership with Circle. The company is said to be working with more than 35 crypto platforms, including Coinbase, Crypto.com, BlockFi and Bitpanda. That amounts to 50 million users all over the world!
Alchemy Pay is expanding the company’s footprint in North America, Europe and the Middle East. This will help the firm to attract more investors, as well as start working with many other corporations.
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