On Monday, August 9, the world’s first hybrid crypto-fiat gateway Alchemy Pay announced the launch of its virtual crypto-linked cards. This move from Alchemy Pay also seeks to accelerate crypto adoption in the payments sector.
As per the announcement, Alechemy’s virtual crypto cards will support over 40 digital currencies. Furthermore, they can link to digital wallets such as PayPal and Google Pay.
Alchemy also noted that its virtual cards will be accepted by millions of merchants via the Visa and MasterCard network. Besides, it will also work on popular eCommerce platforms like eBay and Amazon.
Alchemy also noted that its virtual crypto-linked cards are undergoing beta testing in multiple networks. Thus, the full-fledged launch of its virtual cards will happen either by the year-end or early 2022.
The crypto-linked card transactions have picked up pace recently as more financial players join the crypto market. To further drive adoption, Alchemy Pay is willing to offer a full-suite white-label service for businesses and cryptocurrency-related projects. It will also offer these services to traditional institutions looking to integrate crypto-related solutions.
Alchemy Pay – Pushing for Massive Crypto Growth
The hybrid-crypto platform has recently initiated several measures pushing for massive growth in the crypto space. Last week, Alchemy Pay joined hands with the world’s largest crypto exchange Binance.
The two players together will offer a seamless option to pay and receive digital assets and fiat through the Binance Pay wallet. This facility will also be available for both merchants and peer-to-peer transactions.
Alchemy Pay strongly believes in the concept that to drive crypto adoption we must focus on utility and not just the price. Utility tokens have seen major growth in recent years and will continue to grow further.
On the other hand, Alchemy Pay has also joins hands with Cobo wallet and custody solutions for integrating fiat-crypto payment and financial services. Cobo offers a secure mobile wallet (Cobo Wallet), a high-end cold storage wallet (Cobo Vault), and custodial services for institutional investors that allow clients to focus on investing and managing their crypto portfolios with peace of mind. Clients in each of these segments will receive the additional benefit of payment options with both fiat and cryptocurrency through Alchemy Pay.
Furthermore, Alchemy Pay has joined hands with MEX Global for offering fiat on-ramps. This will help to significantly reduce the entry barriers into crypto.