Crypto exchange CoinJar partners with Mastercard to allow users to pay in Bitcoin, Ethereum, and XRP
As a fully-featured Mastercard, CoinJar Card users can use crypto to make payments for purchases wherever Mastercard is accepted.
Wed, 04 Aug 2021, 05:32 am UTC
With crypto’s growing adoption, holders of digital currencies have been clamoring for services that will enable them to pay for purchases with Bitcoin (BTC), Ether (ETH), XRP, and other cryptos. Australian crypto exchange CoinJar is making it possible for its customers to do just them with its recent partnership with the payments giant Mastercard.
Crypto exchange CoinJar just announced that the launch of the CoinJar Card, the first cryptocurrency Mastercard in Australia. Users of the card will be able to spend their crypto like cash for both online and in-store transactions, the company said in a blog post.
As a fully-featured Mastercard, CoinJar Card users can use crypto to make payments for purchases wherever Mastercard is accepted. The only difference is that users will just need to choose the crypto they want to spend for the transaction and the system will then automatically convert it to Australian dollars.
The crypto exchange said that the CoinJar Card is free to activate and that there are no recurring monthly fees. Another perk is the low the crypto to fiat conversion rate of only 1 percent, which will be returned to the customer via an in-house reward program, according to CoinJar CEO Asher Tan, Cointelegraph reported.
Users of the CoinJar Card can use the physical card or its digital version, which is available in Apple Pay and Google Pay. The card supports 30 cryptocurrencies including Bitcoin (BTC), Ether (ETH), and XRP.
Mastercard has been ramping up its efforts in offering crypto services around the globe. The company recently partnered with a group of crypto businesses including Circle, Paxos, Evolve Bank & Trust, Metropolitan Commercial Bank, Uphold, BitPay, Apto Payments, i2c Inc., and Galileo Financial Technologies to simplify crypto-to-fiat conversions and allow exposure to digital currencies for its cardholders.
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