Australian Bitcoin owners can now spend their digital currency on everyday shopping, via the trialling technology CoinJar Swipe, which converts Bitcoins in to Australian dollars to make everyday purchases.
CoinJar, a venture-backed Aussie startup which has processed more than $50 million worth of Bitcoin transactions in the past 12 months, teamed up with emerchants, a prepaid payments solution provider, to close the currency gap.
Asher Tan, co-founder and CEO of CoinJar, said the technology “demystifies Bitcoin and makes it accessible to everyone through a secure platform.”
“We simply wanted to make it easier for our customers to spend their Bitcoin.”
That’s good news for the 500,000 Australians already using Bitcoin.
The introduction of Swipe follows an announcement by the ATO that Bitcoin transactions will be treated like barter transactions.
While Bitcoin seems to have fallen off the radar recently, the use of the currency has been spreading in Australia, with Melbourne recording the most number of vendors accepting Bitcoin payments, at 53 retailers, following by Sydney with 27.