It will be the first time cryptocurrencies can be spent using a payments card issued in Australia that runs on the network of one of the international card schemes, and highlights global moves by Visa and Mastercard to make it easier to spend bitcoin and other digital currencies to pay for everyday items.
Australians will soon be able to spend crypto via existing brick-and-mortar point-of-sales with the issuance of a new physical debit card, the Australian Financial Review reported Wednesday.
Global payments giant Visa has approved local Australian startup CryptoSpend to begin issuing debit cards for the startup’s users. Those using the CryptoSpend app can then pay using their bitcoin and other supported crypto at retail stores and hospitality venues.
Instead of needing to convert from crypto to fiat, like some other offerings on the market, users of CryptoSpend’s app can make direct purchases.
„With a card program coming soon, you’ll be able to take your crypto holdings to the next level,” the company says.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
