Alchemy Pay to Launch Virtual Crypto Mastercard and Visa Card Services

• The Crypto-Linked Cards are accepted across millions merchant locations in more than 200 countries and territories
• This service is expected to be launched by the end of 2021

SINGAPORE, Aug. 9, 2021 /PRNewswire/ -- 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 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.

About Alchemy Pay

Alchemy Pay is 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 adoption of blockchain technology by making crypto investment and DeFi services readily accessible to consumers and institutions in the fiat economy.

Today, Alchemy operates in 18 countries and regions and has touchpoints with more than 2 million merchants through partnerships with industry giants such as Shopify, Arcadier, QFPay and more.

SOURCE Alchemy Pay