Aussie crypto exchange CoinJar partners with Mastercard for crypto cards
CoinJar , the popular cryptocurrency exchange, today announced a partnership with Mastercard Australia to enable the purchase of Bitcoins with credit cards in Australia. CoinJar is the first Australian exchange to offer credit card purchases, and its new partnership with Mastercard will dramatically increase the usability of Bitcoin for everyday purchases.
Australian crypto exchange CoinJar has partnered with Mastercard for the launch of crypto wallets powered by Mastercard’s blockchain technology, which is expected to be available to Australian users early next year. Customers will be able to buy and sell cryptocurrencies including bitcoin, ethereum and litecoin via Mastercard-issued debit cards, Mastercard said on Wednesday.
Australian cryptocurrency exchange CoinJar has announced it will be partnering with Mastercard to offer cryptocurrency purchases to its users. The move will allow users to make purchases directly from CoinJar using Mastercard, which is the first of its kind in Australia, according to CoinJar.. Read more about best australian crypto exchange and let us know what you think.
Mastercard has been in the news a lot lately as it steps up its attempts to provide cryptocurrency services all around the world. Mastercard’s newest collaboration with CoinJar will allow the Australian market to use its fiat infrastructure to spend cryptocurrency. The newly released CoinJar Card, according to CoinJar’s blog post, would enable customers to make crypto purchases “anywhere Mastercard is accepted.”
Users will be able to get their hands on the CoinJar Card through digital and physical cards, as well as Apple Pay and Google Pay connectivity. The card supports 30 cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), and XRP, according to the official release.
CoinJar will convert the cryptocurrency into Australian dollars before completing the transaction once customers choose their chosen cryptocurrency for payment. The business boasts of having “no continuing costs and a modest 1% conversion rate – returned to consumers through an in-house rewards program,” according to the release. Asher Tan, CEO of CoinJar, said that the new collaboration provides consumers with day-to-day crypto capabilities.
Given that the Australia-based crypto exchange had to relocate to the United Kingdom in 2014 to escape Australia’s crypto taxation, CoinJar’s collaboration with Mastercard may seem to be a return. The CoinJar Card is exclusively available via the company’s in-house app, which seems to have changed its “Terms of Service to incorporate CoinJar Card and a new complaints procedure.”
Mastercard’s new collaboration with banks to help them issue crypto cards is related.
Mastercard recently announced a partnership with a group of crypto businesses to help simplify cryptocurrency-to-fiat conversions. By involving Circle, Paxos, Evolve Bank & Trust, Metropolitan Commercial Bank, Uphold, BitPay, Apto Payments, i2c Inc. and Galileo Financial Technologies, Mastercard intends to allow exposure to cryptocurrency for its users.
The parties engaged in this endeavor would utilize USD Coin (USDC) to combat the high volatility in the crypto sector. Visa, like Mastercard, has increased its efforts in Australia to provide crypto-focused services, including a Bitcoin debit card that enables transactions for key altcoins.
CoinJar, a startup that has pioneered the innovative approach to digital currency, has announced a partnership with Mastercard to allow its users to hold and spend Australian dollars (AUD) and Bitcoin (BTC), globally, on the go.. Read more about how to buy cryptocurrency in australia and let us know what you think.
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