Alchemy Pay will soon be offering Virtual Crypto-Linked Cards to promote the adoption of digital currencies in the payment sector.
The virtual cards support more than 40 cryptocurrencies and will be accepted by millions of merchants on the Mastercard and Visa network, such as Amazon and eBay.
Users can also opt to link the virtual cards to digital wallets like Google Pay and PayPal.
The development stage for the virtual card services has reached completion and has entered into a beta testing stage, which is being conducted in multiple key markets.
Alchemy Pay is expecting to fully launch the virtual card services sometime between end-2021 and early 2022.
Research has found that more than $1 billion worth of crypto-tethered card transactions have been processed, and is likely to experience a continuous rapid growth in the near future.
Previously, Alchemy Pay collaborated with Binance to develop a payment bridge between crypto and fiat through the Binance Pay wallet.