Cryptocurrencies continue to evolve and find greater acceptance as payment with merchants. A Singapore-based fintech is hoping to further encourage crypto acceptance with a new virtual crypto card that sues both the Visa and Mastercard payment network. Here is what you need to know about the upcoming launch of Alchemy Pay crypto-linked virtual cards:
Alchemy Pay Launching Virtual Crypto Cards
Alchemy Pay is launching new, crypto-linked virtual cards that will support more than 40 cryptocurrencies. The new virtual cards will make it easier than ever for crypto fanatics to make purchases with millions of merchants worldwide who accept either Visa or Mastercard.
The new virtual cards will also be accepted on leading eCommerce platforms like Amazon and eBay and will seamlessly link to digital wallets like Google Pay or PayPal. Alchemy Pay currently operates in 65 countries worldwide, including Canada, Mexico, Chile, Peru, Argentina, Brazil, New Zealand, Japan, South Korea, Indonesia, Thailand, and the European Union. The company operates touchpoints for purchases in 18 countries and through partnerships with Shopify, Arcadier, QFPay, and more.
While there is not a set date for launching the crypto-linked virtual cards, Alchemy Pay expects the service to launch by the end of 2021.
Alchemy Pay Partners with Binance
Alchemy Pay’s new initiative follows on the heels of a partnership with Binance, a leading cryptocurrency exchange. The partnership seeks a streamlined way to bridge crypto and fiat currency payments through the Binance Pay wallet. Fiat currency refers to government-backed currencies, like the U.S. dollar or the British pound.
About Alchemy Pay
Alchemy Pay is a Singapore-based fintech and the inventor of the world’s first hybrid fiat and digital currency gateway solution for businesses and investors. Alchemy Pay powers seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions and powers the adoption of blockchain technology by making crypto services readily accessible to consumers and financial institutions.
Related Article: The Best Fintech Credit Cards of 2021