Austrilan crypto exchange CoinJar, announce the launch of CoinJar Card, Australia’s first crypto Mastercard.
The newly launched CoinJar crypto MasterCard will allow users to buy, sell and spend Cryptocurreinces directly from its platform using local dollars. The card would allow its users to spend crypto “wherever Mastercard is accepted.”
After users choose their preferred cryptocurrency for payment, CoinJar will convert the crypto into Australian dollars before making the transaction. The company’s announcement highlights having “no ongoing fees and a low 1% conversion rate — returned to customers via an in-house rewards program.” CoinJar CEO Asher Tan said the new partnership gives users day-to-day crypto functionality.
The CoinJar Card will be available for users through digital and physical cards. It also would be integrated with Apple Pay and Google Pay. According to the official announcement, the card supports 30 cryptocurrencies, including prominent ones such as Bitcoin , Ethereum and XRP.
Also Read: MasterCard Creates Simplified Card for Crypto Payments
“All transactions are denominated in Australian dollars (AUD) and are routed through Australian banks and payment providers,” said Gluchowski, chief marketing officer at CoinJar. This apparently would be the first “Australian-native” crypto card.
Mastercard recently announced a partnership with a group of crypto businesses to help simplify cryptocurrency-to-fiat conversions.
