Australian supermarket giant now accepts crypto

The gas station shop called ‘On The Run (OTR); will soon accept crypto payments at 170 outlets in South Australia and Victoria. The adoption will allow customers to pay for gas, snacks, and even a Subway sandwich in over 30 cryptocurrencies.


Crypto accepted at 170 outlets

OTR’s parent company, the Peregrine Corporation, will also accept crypto at its Subway, Porto and Smokemart stores. Once the system is ready in July, Peregrine will become the largest company in the country to accept crypto payments in stores.

The company has partnered with Singapore-based exchange Crypto.com to accept payments. Datamesh, a Sydney-based payment systems provider, will roll out point-of-sale terminals. It allows customers to pay with their crypto coins through the Crypto.com app.

Yasser Shahin, the executive chairman of Peregrines, stated that accepting crypto payments was an opportunity to share in the growth of cryptocurrencies. He added:

“The growth and widespread adoption of cryptocurrency adoption in Australia and around the world has been phenomenal. It has provided us with a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our clients.”


60% of merchants are interested in accepting crypto payments

from a research of Crypto.com found that only 4% of merchants surveyed globally already accepted cryptocurrencies as payment. However, nearly 60% of retailers were interested in accepting payments within the following year.

Luxury stores were the most willing to accept cryptocurrencies. Namely, 80% of these merchants were enthusiastic about accepting crypto payments.

With the use of cryptocurrency in Australia becoming more common, the Australian government is considering how to regulate its use. In March, Senator Andrew Bragg announced the Digital Services Act (DSA). This is a legislative proposal aimed at reforming market licensing, custody and taxation. In it, he stated that he wants to see Australia become a “crypto hub” and that the country is “open for business”.

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