Category Archives: Cointree

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Australia Post Ventures Into Crypto With New Service

The postal service Down Under, Australia Post, is enabling customers to easily access crypto exchanges through a new platform called Digital iD.

The platform has been created by Australia Post as an answer to concerns about the lengthy processes of accessing crypto exchanges for the first time. The Digital iD platform enables users to dispense with private documents such as drivers’ licenses and passports for initial verification, which often results in anything up to a ten-day wait for new users.

The platform was christened by Brisbane-based crypto exchange, Digital Surge, with customers registering through Digital iD for the first time. Director, Josh Lehman, commented that the Australia Post platform was offering a much more efficient user experience and was speeding up the registration process.

Digital iD’s general manager Cameron Gough pointed out that Australia Post was simply improving on its service to its many customers, enabling a far more efficient way of sharing information with organizations and companies. He pointed out that as with using a driver’s license to enter a club or buy alcohol, simply the name and date of birth of the user should be all that’s required.

Lehman suggested that Digital Surge also has additional systems enabling instant verification of new customers. Users can now buy their cryptocurrencies instantly without recourse to providing extra personal information.

Australia has become a leader in integrating cryptocurrencies into everyday use where possible, with two companies Gobbill and exchange Cointree, recently combining to allow Australians to pay utility bills in crypto. Despite the results of a highly expensive report just released by Australia’s Digital Transformation Agency citing that blockchain was being over-hyped by vendors, it appears that the new prime minister is firmly behind new technology. Scott Morrison recently stated that the contributions of distributed ledger technology (DLT) in the financial sector have, and will, create “massive opportunities.”

Cryptocurrency investors may be heartened at the arrival of a new PM in Canberra, who as treasurer in 2016, had a hand in removing the hated double taxation on crypto assets.

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Australian Citizens Now Able to Pay Bills with Crypto

Two fintech startups in Australia have teamed up to provide a service to bill payers that lets them settle their accounts with cryptocurrency, regardless of whether the issuer accepts crypto payments.Cryptocurrency exchange Cointree and automated billing platform Gobbill are behind the initiative, with Gobbill accepting the crypto funds from customers and paying the bills on their behalf with an accepted form of fiat currency.

Forward-thinking solutions

Gobbill co-founder Shendon Ewans has predicted that cryptocurrency will become a part of daily life in the near future and although he says he may have been late to the party, the Cointree partnership adds both experience and expertise. The Gobill platform already enabled clients to pay their bills via credit cards or bank accounts, so essentially they have just added a cryptocurrency payment option.

The initiative operates fully under the guise of the Australian Securities and Investments Commission (ASIC) having obtained its own financial services license.

Cointree is also licensed with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to prove full compliance with anti-money laundering and counterterrorist financing legal expectations.

Cointree operations manager Jess Rendon said that the platform had trialed its own bill-paying feature, but expected the partnership to make the process easier and more accessible, particularly to people previously not involved with cryptocurrencies. Last year, they reported around USD 100 million of bills paid with the feature.

Crypto in Australia

Coinmap provides an online heatmap indicating where Bitcoin can be used to purchase goods and services; even considering the extent of uninhabited land in Australia, the country looks particularly barren in this respect. The Australian dollar currently ranks 14th by volume of cryptocurrency trades – just 0.11% of the market cap.

While it may not be at the top of the list in terms of adoption, the government has been praised for progressive cryptocurrency regulations that allow such initiatives as that of Gobbill and Cointree to take place.


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