Mastercard Joins Forces with Australian Exchange to Introduce New Payment Options

Working with Mastercard, Australia-based crypto exchange BTC Markets is providing its users with a new range of payment options.

Creating a Crypto Ecosystem

Post-partnership, the crypto platform will enable customers to purchase their digital assets using direct debit, prepaid, or credit cards. In the past, the exchange only supported payment via bank transfer. However, as CEO Catherine Bowler pointed out, the crypto industry is always evolving, and staying on top of developments is essential.

Bowler noted that crypto users are chasing easier methods to effectively enter the crypto industry without sacrificing security. Through this collaboration, the platform will be able to provide customers with new ways of interacting with the expanding market. 

In her statement, Bowler also expressed BTC Markets’ pleasure at being partnered with the popular card network. Mastercard reportedly shares the platform’s focus on reliability, innovation, and client welfare. The recent partnership joins BTC Markets’ illustrious collaboration within the last 6 months.

Last September, the crypto platform joined forces with Australian neobank, Volt. The collaboration provided BTC Markets with access to Volt Bank’s innovative banking-as-a-service (BaaS) platform. After this, just last month, the exchange formed a trading deal with online brokerage service SelfWealth. 

Bowler spoke regarding the platform’s aim with the partnerships, citing interoperability with traditional systems.

Together with our partners, we want to co-create an ecosystem for our clients.”

According to the exchange’s CEO, the network could augment customer relationships with the existing financial framework.

The goal is to showcase “from an industry perspective” how the crypto space can co-exist with traditional finance.  BTC Markets intends to integrate banking, payments, and investment sectors with cryptocurrency. And Bowler describes it as a financially inclusive future.

Mastercard Expands to Australia Amidst Regulatory Measures

Increased regulation worldwide has raised doubts about the success of Mastercard and other companies within the crypto sector. Some regions appear to endorse cryptocurrencies, while others offer a less friendly outlook. Amidst the growing rush to regulate crypto across the world, the Australian crypto industry also appears to be heading for an extensive overhaul as lawmakers continue to submit proposals concerning taxation and regulation.

Last week, the government revealed plans to introduce license requirements for crypto businesses and service providers. For Senator Andrew Bragg, these are essential steps in shaping Australia into a crypto hub.

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If that indeed will be the future of the Aussie digital sphere, Mastercard’s latest venture is certainly not a bad plan. The payments network alongside rivals such as Visa has embarked on a campaign for crypto-integration. BTC Markets likewise is not Mastercard’s sole crypto interest. Over the past year, Mastercard entered into numerous partnerships and helped introduce bank cards that facilitate crypto payments. CoinJar, another Australian exchange also launched a crypto payment card last August, via Mastercard.

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