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Usha Yadav
Aug 18, 2022
by Usha Yadav

Australia Leads World's First Real-Time Cryptocurrency Payments Solution

Cryptocurrency Payments

Table of contents

  1. Rising Interest In Cryptocurrency Payments
  2. Debating Crypto Regulation
Australians will now be able to pay for fuel at stations and convenience stores using Bitcoin (BTC) and other cryptocurrencies under the popular On The Run (OTR) service powered by Crypto.com. The service is accessible in 175 OTR stations in Victoria, South Australia, and Western Australia, according to a blog post published on August 18 by the cryptocurrency exchange. While the Sydney-based payment system DataMesh offers a Point-of-Sale (POS) terminal, Crypto.com's Pay Merchant service acts as a platform for payment settlement.

Rising Interest In Cryptocurrency Payments

According to Karl Mohan, general manager of Crypto.com's Asia & Pacific division, demand for crypto payment options is rising, and people prefer to utilize digital assets. According to the idea, Crypto.com won't collect any fees for the transactions, but the merchant will incur expenses that will determine their prices.

Debating Crypto Regulation

The nation's regulator has stated that digital assets have become widely accepted amid the boom in cryptocurrency popularity. The emergence of assets like Bitcoin (BTC) and Ethereum (ETH) necessitates industry regulation, according to Joe Longo, chairman of the Australian Securities and Investments Commission (ASIC). Notably, more than 1,000 Australian retail investors were polled for an ASIC report published at the beginning of August 2022, and 44% of those surveyed said they owned cryptocurrency.

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Australia Leads World's First Real-Time Cryptocurrency Payments Solution
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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