Global payments giant Mastercard has partnered with cryptocurrency exchange CoinJar to launch the first payment card that supports digital currencies in Australia.
The CoinJar Mastercard is aimed at making digital asset services accessible to mainstream users. The card, which will operate wherever Mastercard is accepted, allows users to select the cryptocurrency they wish to spend and automatically converts it to Australian dollars before a transaction is made.
According to an official blog post released by the crypto exchange, activating the card comes at no cost. And although it carries a transaction fee of 1%, which could be returned to the user as CoinJar rewards, there are no monthly charges for using the card.
The new digital asset card supports 30 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Meanwhile, versions of the CoinJar digital card will be available to Australian users via Apple Pay and Google Pay. The company also hinted that the card would soon be available to UK users.
The move comes right at the heels of Visa’s partnership with local Australian startup CryptoSpend to issue a similar product, BTC PEERS reported.