Alchemy Pay will cooperate with Mastercard to launch a virtual cryptocurrency card that will support more than 40 cryptocurrencies including Bitcoin

According to Alchemy's announcement, it will launch a cryptocurrency card that supports more than 40 cryptocurrencies including Bitcoin. Users can link this type of cryptocurrency card to their Paypal digital wallet and Google Pay. Through this card, users can use Visa and MasterCard networks for seamless payments.

Alchemy also stated in the announcement that its Alchemy Pay has completed the development of the product and launched pilot projects in several key markets. The company plans to start using these cards from the fourth quarter of 2021, or by early 2022 at the latest. The card will allow users and merchants to send and receive crypto payments worldwide without incurring special fees for using crypto.

As previously reported by Bitpush, Binance, the world's largest cryptocurrency exchange, has partnered with Alchemy Pay, a provider of crypto-fiat hybrid payment solutions, to build a payment bridge between crypto-fiat and fiat currencies through the Binance Pay wallet. One of the cooperation criteria is that Binance will unlock cryptocurrency payments for all merchants operated by Alchemy Pay partners in 18 countries.

Alchemy Pay’s merchant network includes Shopify, QFPay, Hong Kong’s Pricerite, Singapore’s Ce La Vi, Canadian footwear brand Aldo, multinational company Arcadier SaaS, Midwest Global Asia Taxi Service (with a network of more than 2,500 limousine drivers), and more.

Visa first announced last year that USDC is compatible with its network. It has publicly reiterated its interest in integrating fiat and cryptocurrency payments on several occasions. On the other hand, Mastercard has partnered with Paxos (Circle & Blockchain) to facilitate the launch of cryptocurrency cards around the world.