Convenience stores chain On the Run has partnered with Crypto.com in a plan to support more than 30 cryptocurrencies for payments in Victoria and South Australian outlets.
The company’s parent entity, Peregrine Corporation, will also start accepting cryptocurrency payments once the system is rolled out in July.
A report by Crypto.com in February revealed that about 4% of merchants globally were accepting cryptocurrencies as payments, with 60% expressing interest.
The findings noted that 40% of customers globally were using cryptocurrencies in payments, with 60% showing interest in using them in the next one year.
The merchants in the retail, grocery, and luxury goods sector are more enthusiastic about accepting digital assets payments at 80%.
Australia has been pushing to have in place proper regulations as the adoption of cryptocurrencies gains traction. Australian Senator Andrew Bragg recently unveiled the Digital Services Act bill aimed at crypto licensing and taxation.