Cointree, a crypto exchange partnered with an automated billing platform Gobbill to provide a payment service in Australia that enables customers to pay their bills with cryptos. In this arrangement, Gobbill will accept crypto funds from the bill payers and settle it on the customer’s behalf in fiat currency.
Shendon Ewans, Gobbill co-founder, has predicted the rise of cryptocurrency to become a part of everyday life very soon.
In its latest development, the Gobbill platform has been accepting payments via credit or debit cards, and bank accounts, and on its recent development, added a crypto payment options
The project was approved of its financial service license and operates under the jusrisdiction of the Australian Securities and Investments Commission (ASIC)
Cointree,on the other hand, has fully complied with the anti-money laundering and other legal expectations. They have also obtained their license with the Austrailian Transaction Reports and Analysis Centre.
According to Jess Rendon, Contree Operations Manager, the platform has performed well on its features and he expects that this partnership will make the process more accessible and easier even for those who are not using cryptocurrencies. In a report last year, roughly US $100 million worth of payments were processed on their platform.
Despite the rough crypto market this year, Rendon said traders were not deterred from utilizing the platform.
“The market goes up and down. All of us would like a magic ball that could tell us when it will go up and down next, but we have a lot of different customers with different investment strategies. It’s not always dependent on price dips and highs.” Rendon added
In terms of the rank in volume trade of crypto trades, the Australian Dollar is currently on the 14th place, around 0.11% of its market cap. Even though the adoption of cryptocurrencies in Australia is not so high, its government is lauded for progressive crypto policies that helps these initiatives to prosper, such is the case of Gobbill and Cointree.