Australian crypto exchange BTC Markets has announced a partnership deal with financial services giant MasterCard to offer payment options for crypto.
The partnership deal will enable the exchange’s customers to buy crypto assets from the platform using their MasterCard via credit, prepaid, or debit payment channels. MasterCard has shown increased interest in its expansion to cryptocurrency payment services, and it wants to establish its presence in the Australian market.
This will not be the first time MasterCard is extending its operations in the Australian crypto market. last year, the financial services giant partnered with CoinJar to roll out the crypto-to-fiat debit card. It enables users to complete purchases by helping them automatically convert their crypto assets into fiat currency at any online trading platform or ATM where MasterCard is accepted.
Australia Could Soon Tighten Its Crypto Tax Laws
Australia is gradually becoming an important market for crypto-based companies. The government is making the market more relaxed for the crypto community. However, the industry is bracing itself for a much tougher climate for cryptocurrencies as the country’s regulators propose a law that will charge higher taxes on crypto trading and investment.
MasterCard has continued its plans to expand globally as it partners with BTC Markets. The company has already collaborated with several tech and crypto-based firms in the past. Apart from cryptocurrencies, MasterCard has also shown considerable interest in NFTs as it plans to scale its solutions.
Last year, it partnered with blockchain technology firm Consensys, leading to the official launch of ConsenSyS Rollups, an Ethereum scaling solution. MasterCard has also teamed up with several other firms as it continues its global expansion plans across several countries and continents. MasterCard has also entered the growing NFT space after partnering with leading crypto exchange Coinbase in January this year.
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