On The Run (OTR), an Australian convenience store that has international locations, will allow customers to pay in cryptocurrency by partnering with CryptoCom.
OTR’s Dive in to Crypto
According to The Australian, OTR will allow customers to pay for fuel and goods in digital currencies at 170 locations across South Australia. The convenience store expanded its operations to Victoria not long ago. It is not yet known if they will accept crypto payments.
OTR will be the first brick-and-mortar store in Australia to accept digital currency payments once the move is completed in July.
Peregrine Corporation, the parent company of the firm, will accept crypto settlements at its Subway and Oporto stores. Yasser Shahin, Peregrine’s Executive Chairman, commented on the matter.
“The mainstream acceptance and growth of cryptocurrency adoption in Australia has been amazing, and it has given us an opportunity to tap into this space’s momentum for the benefit our customers.”
Karl Mohan, CryptoCom’s Asia Pacific General manager, stated that the partnership will “make further progress in accelerating Australia’s adoption of cryptocurrency.”
australia has put its focus on crypto
Recently, Australia has shown great enthusiasm for the cryptocurrency industry. Federal Treasurer Josh Frydenberg suggested that Australia implement a “cryptoasset reform plan” at the end of 2021. This would allow the country to be ranked among the top global leaders in digital asset sectors.
It is expected that the legislation will improve customer protection and strengthen Australia’s financial system. Frydenberg stated that crypto exchanges should be subject to the same regulations as banks because they hold large amounts of money and investments.
Jane Hume, Australia’s Finance Services Minister, stated that digital assets were not a “fad” and that they have “captured people’s hearts and minds.”
Hume also mentioned Decentralized Finance (DeFi). She predicted that it would “present incredible opportunities” for the future. She concluded that Australia should not be “left behind by far of unknown.”
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