Participating in the country’s ever-intensifying crypto and blockchain adaption, one of Australia’s oldest and largest crypto exchanges is now offering crypto payment card.
Coinjar Offering a Fully-Featured Crypto Mastercard
According to an Aug 3rd blog by Coinjar, the company has partnered with giant payment service Mastercard. Through the partnership, Coinjar is now offering its fully-featured Crypto Mastercard. The card, available from Tuesday in digital form only, integrated with Google Pay and Apple pay, will enable customers to use their crypto similar to cash. By September, the card will be available in physical form too. More than 30 crypto coins, including BTC, ETH, and XRP, are currently offered by the company. It is the country’s first crypto payment card.
At the point of sale, Mastercard will automatically convert Crypto to equivalent AUD which will free the individual merchants from the hassle of signing up for any specific program. Mentioning that the thousands of customers have already signed up, Jordan Michaelides, Coinjar’s Head of Partnerships stated:
“We’ve already got people tagging us on Instagram that they’ve paid for their [groceries] with the card. I think the retail-led environment has been there for ages and we’ve finally got a solution to fix that problem we had,”
Mastercard and Australia Continuing their Support for Innovation
In its effort to expand and expedite digital currency innovation, Mastercard has recently launched a global support program for startups and a pilot program to enable the purchase of crypto on its network.
Over the years its has been seen that Australia has been inserting tons of money into its blockchain ecosystem, with an ambition to become a global leader in the market. Michaelides also mentioned that because Australia is forward-looking, the way it engages in the Fintech space to create new products, it is “in the top five jurisdictions in the world in terms of new product offerings.”