• CoinJar, an Australian cryptocurrency exchange, has partnered with Mastercard to offer crypto cards

  • Mastercard has been making headlines on a regular basis as it expands its efforts to provide crypto services around the world. Mastercard’s latest collaboration with CoinJar will allow the Australian market to spend cryptocurrencies within its fiat infrastructure. According to CoinJar’s blog post, the newly launched CoinJar Card will allow users to make crypto purchases “wherever Mastercard is accepted.”

    Users will be able to use the CoinJar Card via digital and physical cards, as well as Apple Pay and Google Pay integration. The card, according to the official announcement, supports 30 cryptocurrencies, including well-known ones like Bitcoin (BTC), Ethereum (ETH), and XRP.

    CoinJar will convert the cryptocurrency into Australian dollars before completing the transaction after users select their preferred cryptocurrency for payment. According to the company’s announcement, it has “no ongoing fees and a low 1% conversion rate – returned to customers via an in-house rewards program.” According to CoinJar CEO Asher Tan, the new partnership provides users with day-to-day crypto functionality.

    CoinJar’s partnership with Mastercard may appear to be a comeback given that the Australia-based crypto exchange was forced to relocate to the United Kingdom in 2014 in order to avoid Australia’s crypto taxes. Users can only obtain the CoinJar Card through the company’s in-house app, which appears to have updated its “Terms of Service to include the CoinJar Card and a new complaints process.”

    Mastercard recently announced a collaboration with a group of cryptocurrency companies to help simplify cryptocurrency-to-fiat conversions. Mastercard intends to give its users access to cryptocurrency by partnering with Circle, Paxos, Evolve Bank & Trust, Metropolitan Commercial Bank, Uphold, BitPay, Apto Payments, i2c Inc., and Galileo Financial Technologies.

    In this effort, the parties involved would use USD Coin (USDC) to combat the volatility prevalent in the crypto space. Along with Mastercard, Visa has increased its efforts in Australia to provide crypto-focused services, including a Bitcoin debit card that supports transactions for major altcoins.

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