By Nathan Ferguson
Australian news outlet, The Australian recently shed light on the recent Bitcoin development made by the popular store named as, On-The-Run (OTR).
According to recent reports, the popular Australian utility store called, On-The-Run has announced that it will soon provide customers the ability to perform payments using their Bitcoin holdings. The OTR store has made an alliance in popular crypto exchange, CryptoCom to allow customers to pay for not only goods, but also fuel and other digital services using Bitcoin, through its impressive 170 locations that are spread across the southern region of Australia.
Recently the firm did reach into the region of Victoria, but it is still unclear whether those locations will let customers pay in Bitcoin or not.
Working with CryptoCom Exchange
Crypto exchange, CryptoCom also had a positive stance on OTR, with its General Manager, Karl Mohan saying that this alliance with OTR will help to boost the increasing adoption rate of cryptocurrencies in the region of Australia. Karl also said that customers at all OTR stores will now gain the ability to pay for their items and services using CryptoCom’s Merchant Pay feature.
Expected Launch Date
As for when the crypto payment system will be implemented, The Australian highlighted that this new development is scheduled for full launch in the month of July, improving the overall image of the store company and enabling it to become the biggest bricks-and-mortar dealers in Australia that will allow its customers to use Bitcoin as a legit payment method.
Peregrine Corporation Expansion into Crypto
The parent company of OTR Peregrine Corporation also stated that they will be expanding the reach of cryptocurrencies towards their respective stores including Subway, Oporto and Smoke Mart.
Executive Chairman, Yasser Shashin from Peregrine Corporation stated that the overall development and increase in adoption of cryptocurrencies around the globe has been outstanding, and this allows us to take advantage of the quick development pace that this growing space is experiencing, in order to please our precious customer base.
Australian Crypto Reform Plan
Australia is a country that has shown a great level of interest in using cryptocurrencies. Back in the end of last year, the Federal Treasurer, Josh Frydenberg presented a cryptocurrency “reform plan” that would allow the country to become pioneers in the digital asset industry. This plan highlighted multiple ways to develop consumer protection rules and solidify the countries financial position.