Copy link
Increase text size
Decrease text size
Link copied

Australia gets crypto-friendlier, major grocery chain accepts bitcoin payments

Sydney, Australia.horstmueller_HH/Pixabay

Sat, 13 Jul 2019, 05:24 am UTC

More and more retailers are now accepting payments via bitcoin, and Australia just added another one on the list with the Independent Grocers of Australia (IGA) joining in. Composed of several supermarkets in the country that are owned independently of each other, the IGA teamed up with crypto firm TravelbyBit. This then allows the chain to accept bitcoin payments from customers who prefer to use the crypto coin as a form of tender.

For some context, TravelbyBit is a travel company that accepts payment through popular crypto options like Bitcoin and Litecoin. In an interview with Nugget’s News, TravelbyBit co-founder Caleb Yeoh explains what this deal is all about.

“Regardless of whether I’m buying eggs, milk, fruit, or vegetables, I now have a way to pay for my groceries with cryptocurrency. The same goes for any other cryptocurrency owners shopping at Bowen Hills IGA,” he said and then later adding, “TravelbyBit is all about supporting the little guy and supporting the decentralised option.”

At this point, it is no longer surprising for any retail chain or entity to accept payment via cryptocurrency. Even major financial entities like JPMorgan are now in on the game and bank integration is expected to cover a wider scope of the crypto market in the future.

This particular deal between TravelbyBit and IGA is simply the two getting ahead of the competition. What’s more, Yeoh expressed quite a bit of enthusiasm with regards to how he wants more merchants to look at crypto coins with a more educated eye. This might explain why his company is not making any money from this deal, Cryptoglobe reports, which is quite the rare sight these days.

“It all comes down to education. Introducing merchants to the world of cryptocurrency so that they may appreciate the benefits in their own time,” he said.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,678.67 (-5.01%)
  • Ethereum (ETH) $165.46 (-6.04%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $331.31 (-5.06%)
  • Bitcoin SV (BSV) $269.53 (+5.08%)
  • Bitcoin (BTC) $8,678.67 (-5.01%)
Jan 17, 2020 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto dealer SFOX announces new service for investors and wealth managers
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
Crypto exchange Gemini launches own insurance company "Nakamoto"
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
Huobi joins Blockchain Turkey Platform (BCTR)
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
U.S. lawmakers seek tax exemption for crypto transactions under $200
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.