OTR launches crypto at Australia outlets.

OTR (On The Run) is a chain of gas stations accepting crypto payments in 175 furl outlets across South Australia, Victoria, and Western Australia. 

Collaboration of DataMesh & Crypto.com

Crypto.com’s Karl Mohan while commenting on the rollout, tipped the acceptance of AUD-backed stablecoin as a stimulant to make crypto payments dominant in the country. The entire idea is a collaboration between a Sydney-based payment system ‘DataMesh; and a Singapore-based crypto exchange platform, ‘Crypto.com’.

Crypto.com offered its “Pay Merchant Service” as a layer for payment settlements, while DataMesh provided its “Point of Sales Terminals”.

The general manager of Crypto.com Asia and Pacific shared with Cointelegraph that ‘it took only eight weeks from the time of “proof of concept” to the point of a fully scalable production-ready environment’.

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The Aim to Make Crypto Payment Mainstream in Australia

Mohan further states that 175 furl outlets equip with the payment system, and the crypto payment service is ready to scale further. Moreover, any merchant or a small business owner can adopt the payment processor and accept payments in digital currency ‘AUD’.

The parent company of OTR, Peregrine Corp plans to extend its service to another 250 retailers, added to 175 fuel outlets, across Australia such as Oporto, Krispy Kreme, and Subway. Karl Mohan informed that Crypto.com charges nothing in regard to the transactions. However, the merchants will be charging on the payments and can set their own rates. Therefore, the payments may be similar to the charges with fiat money cards.

A question is on how to make crypto payments mainstream across Australia. Especially with the present tax impositions, and the answer directly pointed to the government backing stablecoin “AUD”.

Karl Mohan said, “Bitcoin and Ethereum top the list of the crypto industry with their market capitalization. However, a huge number of consumers have stated that they are ready to accept and pay with Australian stablecoins”.

He further adds that the system was to become accessible. With the announcement of the Australian dollar stablecoin by ANZ. The stablecoins are available which has a huge possibility of wide adoption. 

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Wrapping Up

A pilot test in the A$DC stablecoin by ANZ only for private institutional purposes. However, with time, the process was available for the retail industry. The general manager Mohan further states that they are ready to partner with any Australian deposit-taking institution. Moreover, it is looking forward to introducing a stablecoin.