More crypto news from the worldwide were brought to investors by RoboticsOnline (reviewed here). Not that long ago this platform has made several improvements into the “NEWS” site page, so now all visitors can find three main sections “Internal News“, “Worldwide news“, “From the press“.
I remind you that RoboticsOnline has being monitored by EN for 300 days already and the whole time on market is already more than 910 days.
Here’s the news:
Australian convenience store set to accept crypto payments
- OTR convenience store is planning to accept cryptocurrency payments
- If this happens, it will be the largest bricks-and-mortar store to adopt crypto payments
- The convenience store will accept crypto payments through a partnership with CryptoCom
On The Run (OTR), a convenience store in Australia, announced plans to allow its customers to make payments using cryptocurrencies. The store has partnered with CryptoCom for this initiative.
Through this move, OTR will be the largest physical store in Australia to accept digital assets to pay for goods and services.
OTR to accept crypto payments
A recent publication by The Australian said that OTR would allow customers to pay for goods, services and fuel using cryptocurrencies. The payments would be available in 170 company locations based in South Australia.
The crypto payments will be adopted by the store in July this year, and once this is done, OTR will be the largest brick-and-mortar retail store in Australia that accepts cryptocurrencies as a payment method.
Peregrine Corporation, the parent company of OTR, has also announced plans to accept cryptocurrency payments on various subsidiaries, including Oporto, Subway and Smokemart. This will boost the level of cryptocurrency adoption and usage in Australia.
The Executive Chairman of Peregrine, Yasser Shahin, commented on this development saying, “The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world have been phenomenal and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers.”
As aforementioned, OTR will accept crypto payments through a partnership with CryptoCom. Customers on the OTR store will now accept cryptocurrencies as a means of payment when using CryptoCom Merchant Pay. This option will be available in all OTR stores.
The General Manager at CryptoCom’s Asia Pacific region, Karl Mohan, commented on this partnership saying that it would “make further inroads in accelerating Australia’s adoption of cryptocurrency.”
Australia is focusing on crypto
Australia has shown commitment to embracing the innovativeness of the cryptocurrency sector. The increased adoption of cryptocurrencies by firms based in the country has attracted the attention of investors, with crypto trading volumes based in Australia increasing significantly.
The Federal Treasurer of Australia, Josh Frydenberg, issued a statement towards the end of last year saying there is a proposal to adopt a “crypto-asset reform plan.” The plan would enable Australia to be at par with other countries globally that were adopting clear regulatory frameworks for the crypto sector.
This legislation would improve customer protection and strengthen the Australian financial sector if this legislation is implemented. Frydenberg also said that cryptocurrency exchanges should be subjected to the same regulations as banks. This is because, just like banks, crypto exchanges hold a significant amount of people’s funds and investments.
Jane Hume, the Australian Finance Services Minister, has also previously said that digital assets were real. She noted that Bitcoin and other cryptocurrencies had grown significantly over the years and that they had “captured the hearts and minds” of Australians.
Hume also spoke about decentralized finance (DeFi), saying that it presented major opportunities for the future. She said that Australia should not be left behind by other countries because of the “fear of the unknown.”
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