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
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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