Mastercard Inc. is collaborating with the Australian crypto exchange CoinJar in the launch of a digital currency card.
The CoinJar Card will not only be available as a physical card, but it will work virtually as well through Google and Apple Pay. With the help of Mastercard, users will now have the possibility to purchase, sell, and spend virtual currencies from the online platform utilizing Australian dollars.
“CoinJar Card allows you to use the cryptocurrency in your CoinJar to make purchases, wherever Mastercard is accepted. All you need to do is choose which crypto you want to spend, and it’ll be automatically converted to Australian dollars when you make a transaction – no need to preload.”From CoinJar’s blog post.
The card supports 30 different virtual currencies including bitcoin, ether, and XRP. Users can choose their favorite token to use for payments. After that, the crypto will be converted into fiat the national fiat currency. Only then the transaction can be finalized.
“With full digital wallet support, you can spend your crypto instantly and securely with the device in your hand (or on your wrist). Even better, CoinJar Card is free to activate, has no monthly fees and a low 1% transaction fee – returned to you as CoinJar Rewards every time you spend.”From CoinJar’s blog post.
Not long ago, Mastercard announced a new collaboration with several firms to make crypto to fiat conversions easier for users. Companies like Circle, Paxos, Evolve Bank & Trust, Metropolitan Commercial Bank, Uphold, BitPay, and Galileo Financial Technologies are involved in the project.
Back in April, Mastercard also collaborated with the online platform Gemini. Card users can obtain up to 3% on their acquirements starting from this summer in more than 30 different digital currencies including bitcoin. These rewards will be delivered to their Gemini accounts.
“Mastercard continues to evolve and meet both industry and consumer demands and commit to the crypto space. We’re excited to partner with them on our first real-time crypto rewards card, further helping to bring crypto mainstream.”Tyler Winklevoss, who is the CEO of Gemini.