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Australia’s fuel and convenience store chain OTR to accept crypto payments
Australia, which is known for its massive crypto adoption, has seen another bullish indication when convenience store and gas station giant, On The Run (OTR), hinted at its plans on accepting crypto payments at 170 outlets across South Australia and Victoria.
OTR to accept crypto payments
A report by The Australian reveals that OTR’s latest move will enable users to pay for snacks, gas, and even a Subway with more than 30 crypto tokens. The parent company of OTR and one of the biggest privately-owned firms in South Australia, Peregrine Corporation, has also planned for crypto payment acceptance at its Subway, Smokemart, and Oporto stores. Reports say that it would become the largest company in the nation to accept in-store crypto payments after the system gets finalized in July 2022.Crypto exchange Crypto.com has partnered with OTR to implement its Pay Merchant Service along with Sydney-based payment systems provider, Datamesh to roll out point of sale terminals. This will allow customers to pay through Crypto.com app with their crypto holdings.
Peregrine's executive chairman, Yaseer Shahin believes that crypto payments acceptance will help the company to intensify mainstream adoption of cryptocurrencies. He added:
“The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal, and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers.”
Crypto payment becoming mainstream
This is not the first time a big name has accepted crypto payments. Several big players have done so, which has massively pushed crypto adoption. Recently, e-commerce giant eBay revealed its plans to add crypto payment options to its platform. Along with that, payment giant Stripe also announced that it is launching crypto payment support, entering back into the digital asset world.While crypto usage is growing in Australia each day, the government has been exploring ways to regulate and address its applications. Last year, the country revealed its plans to bring six reforms that aimed to revolutionize the country's economy.
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