Bitcoin investors in Australia now have the option of paying their bills in digital currency, owing to a team-up between Cointree, a cryptocurrency exchange, and Gobill, an automated billing platform.
Cointree meant to empower cryptocurrency holders to deliver their household bills through a stream of digital currency alternatives. As a part of the agreement, the firm will extract the customers’ money and pay their bills, placing itself as a medium between the parties. The development allows Australians to settle their bills with respect to utility and service providers in digital currency, regardless of whether the providers accept cryptocurrencies as payments or not.
Cointree has a secure license under AUSTRAC. Meanwhile, Gobill works under an Australian financial services license under another article, ASIC.
The cryptocurrency exchange firm Cointree currently backs a host of currencies ranging from Bitcoin to Litecoin and Ether, as reported by News BTC. Users who have their currency investments stored in Cointree’s platform can extract this service by linking their accounts to Gobill’s platform.
Crypto market in Australia
Australia has affixed itself as a crypto-oriented nation, having adopted numerous measures to conjure an environment adhering to crypto and blockchain innovations.
In April, the government discharged a list of administrative pre-requisites for firms operating in the country. The Australian Transaction Reports and Analysis Centre (AUSTRAC) now has oversight over the said crypto firms and enforces anti-laundering laws. Recently, Coinbase also joined forces with WeGift in a partnership to enable Australian digital currency investors to trans-migrate their currencies into assets at countless stores. Australia also enforced guidelines for ICO guidelines last year under which the supervision of an ICO varies depending on the organization of the tokens.
Australia has three fully operational cryptocurrency exchanges, two of which are based in Melbourne, and one of which is based in Sydney.
The post Australians To Pay Bills In Crypo Following Initiative By Cryptocurrency Exchange appeared first on OWLT Market.
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