Mastercard launching a brilliant cryptocurrency card service with CoinJar

CoinJar (an Australian cryptocurrency exchange) teams up with Mastercard to create cryptocurrency cards for 30 of them. It is not an unexpected partnership, given Mastercard’s efforts into cryptocurrency transactions across the world. But it will ramp the company’s operations even further in the Australian economy. These cards will come with Apple Pay, and Google Pay integrations. Some of the cryptocurrencies it will support include Bitcoin, Ether, and XRP.

CoinJar will allow users to convert the cryptocurrency into fiat ones before processing the transaction. The company says that the processing (conversion) charges will be minimal (1%), and customers will receive it via the reward programs. This can be a comeback for CoinJar after 2014 when the exchange shifted its operations to the UK because of Australia’s bizarre cryptocurrency rules and regulations. Users can get these cards using an in-house app.

Recently, Mastercard has partnered with numerous organizations for the cause, such as Circle, Paxos, Evolve Bank and Trust, and Metropolitan Commercial Bank among many others. The main cryptocurrency, that will be in use is the USDC coin to provide a sense of stability to the mix. Visa will launch a similar service for Australian consumers.