Alchemy has Announced which will launch crypto cards that will support more than 40 cryptocurrencies such as Bitcoin and others. Furthermore, the crypto-fiat platform revealed that users could link the cards to their PayPal and Google Pay digital wallets from the announcement.
With this, users can pay through the Visa and MasterCard networks without any hassle. Also, anyone who has a card and uses it on eBay and Amazon.
Related reading | Vitalik Buterin urges Ethereum to grow beyond DApps
The announcement also revealed that Alchemy Pay has developed the products and has even launched beta testing activities in many key markets. Consequently, the hybrid firm plans to start using the cards from 2021, until late or early 2022.
Reason behind the launch of the cryptocurrency card?
Until now, many users and crypto enthusiasts have been asking for cards with crypto links to facilitate transactions. With such cards, users believe that companies in the industry can offer more services, and even traditional institutions can integrate relevant solutions related to cryptography.
Recall that Alchemy Pay recently partnered with crypto exchange Binance. One of the partnership criteria is Binance to unlock cryptocurrency payments at all Alchemy Pay partner merchants operating in eighteen countries.
Some of the partners include Arcadier, a software technology company, QFPay, a mobile payments company and Shopify, and an e-commerce guru, in addition to other merchants.
According to our sources, MasterCard and Visa have made many efforts to join the crypto industry as major players. In an initial report, our sources estimated a total of over $ 1 billion in crypto transactions conducted by Visa alone from January to June 2021.
The crypto market will slump if the bulls fail to remain intact | Source: Crypto Total Market Cap on TradingView.com
Visa first announced last year that the USDC coin is compatible with its network. Subsequently, the company also reaffirmed its interest in integrating crypto payments and fiat access ramps.
Also, he categorically mentioned that they are focusing more on integrating stablecoins to their cards. On the other hand, Mastercard has partnered with Paxos, the Circle & blockchain firm, to facilitate the launch of crypto cards around the world.
Alchemy Pay Background
Alchemy Pay launched the first hybrid digital and fiat currency payment solution for investors and businesses. It facilitates smooth acceptance of fiat and cryptocurrency for many developers, financial institutions, and trading networks.
Related reading | US Banks Encouraged To Partner With Cryptocurrency Companies
It also drives the adoption of blockchain technology, helping many people access DeFi services and cryptocurrency investments. In addition, through the gateway, institutions and consumers operating in the trust sector can also invest in cryptocurrencies and DeFi.
The firm has grown a lot and has reached at least 18 countries, regions and millions of merchants.
Featured image from Pixabay, chart from TradingView.com