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    Home » Crypto News » CoinJar and Mastercard Launch Australia’s First Crypto Card

    CoinJar and Mastercard Launch Australia’s First Crypto Card

    Author: Mandy Williams

    Last Updated Aug 3, 2021 @ 12:38

    Mastercard and CoinJar have rolled out prepaid cards to make it easier for Australians to spend their cryptocurrencies.

    CoinJar, a leading Australian cryptocurrency exchange, has recently partnered with the payment processing giant Mastercard to launch a new prepaid card to make digital asset services accessible to mainstream users.

    CoinJar Launches Crypto Card

    In an official blog post published on Tuesday, the exchange disclosed that the new CoinJar card will allow users to make purchases with their crypto assets wherever Mastercard is accepted.

    This initiative will enable Australians to spend their cryptocurrencies without having to first convert them to fiat before making payments. With the CoinJar card, users will only have to select the cryptocurrency they wish to pay with, which will then be converted to Australian dollars automatically before making the transaction.

    Additionally, the crypto exchange promised users several other benefits tied to the new card, including free activation, zero monthly fees, and rewards.

    “CoinJar Card is free to activate, has no monthly fees and a low 1% transaction fee – returned to you as CoinJar Rewards every time you spend,” the exchange said. 

    The card provides support for 30 different cryptocurrencies, including the top coins like Bitcoin, Ethereum, and XRP. As per the announcement, the CoinJar card will be available to users in both digital and physical forms, including integration into Apple Pay and Google Pay.

    ADVERTISEMENT

    The company noted that customers can get their cards via the latest version of the CoinJar app, adding that it has also updated its Terms of Service to include “CoinJar Card and a new complaints process.”

    Mastercard Ventures Further Into Crypto

    Mastercard has recently been very active in the crypto space and has partnered with several businesses to help simplify digital asset transactions and give its users exposure to the rapidly growing market.

    Last month, the leading payment processor announced a new Start Path startup engagement program for crypto and blockchain companies, with the aim of improving innovation and increasing adoption.

    Mastercard hopes to deepen its foothold in the industry, as the company’s CEO is optimistic that the asset class is here to stay and commented during an earnings call last Friday that the company has “to be in the [crypto] space.”

    The Rise of Crypto Cards 

    Cryptocurrency cards are fast becoming the norm in the industry, as more businesses continue to partner with Visa and Mastercard to launch such innovations.

    In December 2020, Visa approved Simplex, the Israeli provider of fiat to crypto solutions, to issue debit cards, thus allowing over 60 million merchants on the Visa network to receive digital asset exposure.

    Earlier in April, Mastercard partnered with U.S.-based exchange Gemini to roll out a credit card that rewards users with bitcoin. 

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    You Might Also Like:

    • Mastercard Building. Source: ComputerWorld
      Mastercard Unveils New Start Path Initiative for Blockchain and Cryptocurrency Companies
    • Mastercard Building. Source: ComputerWorld
      Mastercard Has to Be in the Cryptocurrency Space, Says CEO
    • Australia
      Australian Minister Urged Crypto Investors to Be Utterly Cautious
    Tags: Australia Mastercard
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    About The Author

    Mandy Williams
    More posts by this author

    Mandy Williams is a full-time reporter at CryptoPotato. She joined the cryptocurrency space in early 2017 during her search for financial freedom and has remained devoted to the industry.
    Contact Mandy: Twitter

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