Mastercard Now Supports Australian Crypto Exchange BTC Markets

BTC Markets, an Australian-based cryptocurrency exchange, has joined hands with Mastercard. This partnership will allow the platform’s users to make direct prepaid or credit card payments to deal and invest in the cryptocurrency. However, this collaboration comes amid the rising legal concerns over card payment in the country.

Mastercard expands its crypto integration

Caroline Bowler, CEO of BTC Markets, announced that they are really proud to work with the Mastercard team. She also mentioned that as the crypto industry is evolving, users are also looking for faster and simpler ways to access cryptocurrency securely and efficiently. Mastercard’s stability, innovation, and customer protection allow us to offer customers to engage with it.

BTC Markets have more than 325,000 Australian users who have traded AU$19 Billion in digital assets. The payments giants like Mastercard and Visa have started a trend of lending their services in integration with cryptocurrency platforms.

Back in 2021, Coinjar became the first Aussie crypto exchange to partner with Mastercard. Together they launched the country’s first crypto payment card. Along with this Mastercard spread its crypto card program in the Asia Pacific region. With Coinjar, Mastercard also joined hands with Bitkub and Amber Group of Thailand. Earlier this year, Coinbase struck a deal with MasterCard which allowed its customers to buy NFTs and more.

Australia to get pro-Crypto reforms

Meanwhile, the Australian crypto industry has been surrounded by the many proposals launched by lawmakers to develop a framework to regulate and tax digital assets. According to reports, the Australian government will soon announce its 2022 Federal Budget outlining the nation’s approach towards cryptocurrency.

As per reports, the Australian government will be meeting the industry experts to consult on the implementation of the reforms by the end of the year. As the nation aims to lead the Web3 space, there have been speculations that the new reforms will be pro-crypto. The digital asset industry is expected to get taxation relief.