Alchemy Pay 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 virtual cards – which can be linked to digital wallets such as Google Pay and PayPal – support over 40 cryptocurrencies and will be accepted across millions of merchants on the Visa and Mastercard network, including popular eCommerce platforms such as Amazon and eBay.
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.
Research shows that over US$1 billion worth of crypto-linked card transactions have been processed and is expected to continue growing rapidly in the near future. In an effort to further drive adoption rates, Alchemy Pay is looking to offer the virtual card services as a full suite white-label service to crypto projects and businesses as well as traditional institutions looking to integrate crypto-related solutions.
