Australian crypto exchange BTC Markets forms a partnership with Mastercard to support crypto card payments.
BTC Markets is an online cryptocurrency exchange with over 325,000 Australian customers and A$19 billion in digital assets traded.
This partnership will allow customers to make debit, prepaid or credit card payments directly to a cryptocurrency exchange. Previously, BTC Markets users could only pay by bank transfer.
BTC Markets CEO Caroline Bowler, also said they are proud to be working with the Mastercard team in Australia.
Caroline Bowler also adds:
“As the cryptocurrency landscape continues to grow and evolve, customers are increasingly looking for faster and simpler ways to access cryptocurrency securely and efficiently. We are excited to be partnering with Mastercard who share our focus on stability and innovation and customer protection, and enable us to offer our clients with new ways to engage with this emerging digital asset class.”
The move is part of a broader trend by payment giants like Mastercard and Visa to incorporate crypto functionality into their services.
Last year, Mastercard partnered with CoinJar to launch one of the country’s first crypto payment cards backed by an Australian crypto exchange.
The Australian crypto market has been very active lately, just last week, the FTX crypto exchange also launched its FTX branch in Australia.
Australia’s crypto industry is gearing up for a broad regulatory sweep, following a wave of proposals from politicians to regulate and tax the industry.