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Highlights
- Global cryptocurrency platform Crypto.com is planning to make its debut Down Under, starting with the Visa card.
- The Visa card will help the consumers quickly convert the crypto tokens to fiat, which can be used at the stores.
- Crypto.com aims to tap into Australia’s fintech-friendly environment, thereby making its global expansion plans pretty clear.
Cryptocurrencies in Australia, lately, is seeing a rising trend. Despite a slow start, it has managed to stay well within the radar and has managed expansion in the country. According to Statista data, there are almost 18.4% of people in Australia own cryptocurrencies, with Bitcoin being the most obvious and leading cryptocurrency to be traded in the country.
Now capturing the trend, global cryptocurrency platform Crypto.com plans to make its debut Down Under, starting with the Visa card. The Visa card will help the consumers quickly convert the tokens to fiat, which they can spend at the stores. Founded in 2016, Crypto.com is fast becoming one of the world’s fastest-growing crypto apps, with approximately 10 million customers. With a wide variety of services, Crypto.com aims to enhance the use of cryptos within everyday life.
Also read: When is the right time to invest in DAR token?
With its presence in more than 30 countries, the Crypto.com Visa Card is the world’s most popular crypto-linked card. With the card, the customers can convert the cryptocurrencies into Australian dollars and use it to do transactions anywhere Visa is accepted.
Fintech friendly country
Australia has often struggled to keep up with the growth pace of the digital asset economy, but it is slowly catching up with the trend and the government plans to challenge the other leading crypto markets. Australia’s Commonwealth Bank (CBA) has already allowed its investors to use its CommBank app to trade cryptocurrencies.
How Crypto.com’s entry in Australia will help its fintech journey
Crypto.com is aiming to increase the usage of cryptocurrency securely. Crypto.com wants to tap into Australia’s fintech-friendly environment, thereby making its global expansion plans pretty clear. For this, Crypto.com has decided to rope in Karl Mohan as its new General Manager for Asia-Pacific (APAC).
Also read: How high can IoTEX (IOTX) crypto go after its recent rally
Australia and crypto adoption
Just a week back, the Australian Securities and Investment Commission (ASIC) gave a green signal to Bitcoin Spot exchange-traded funds (ETFs). Kris Marszalek, co-founder and CEO of Crypto.com, said that with Australian regulators actively working towards creating a crypto-friendly environment, Crypto.com’s latest move would help Australians to adopt cryptocurrency and blockchain technology more holistically.
