Mastercard is constantly in the headlines as it intensifies its efforts to provide cryptocurrency services around the world.. In a new partnership with CoinJar, Mastercard will enable the Australian market to issue cryptocurrencies within its fiat infrastructure. The CoinJar blog post highlighted that the recently launched CoinJar card will allow users to make crypto purchases “where Mastercard is accepted”.
The CoinJar card will be available to users through digital and physical cards and the integration of Apple Pay and Google Pay. According to the official announcement, the card supports 30 cryptocurrencies, including prominent ones like Bitcoin (BTC), Ether (ETH) and XRP.
Once users have selected their preferred cryptocurrency for payment, CoinJar will convert the cryptocurrency to Australian dollars before the transaction is carried out. The company’s announcement underscores that “There are no ongoing fees and a low conversion rate of 1% that is returned to customers via an internal rewards program”. The CEO of CoinJar, Asher tansaid the new partnership, which will bring users daily crypto functionality.
Mastercard recently announced a partnership with a group of cryptocurrency companies to make converting cryptocurrencies to fiat easier.. Through the participation of Circle, Paxos, Evolve Bank Trust, Metropolitan Commercial Bank, Uphold, BitPay, Apto Payments, i2c Inc. and Galileo Financial Technologies, Mastercard aims to enable its users to take the risk of cryptocurrencies.
In this endeavor The parties involved would use USD coins (USDC) to counter the high volatility in the crypto space. Along with Mastercard, Visa has also stepped up its efforts to provide cryptocurrency-centric services in Australia with a bitcoin debit card that supports transactions for large altcoins.