CoinJar, an Australia-based cryptocurrency exchange, has recently announced it has partnered with payments company Mastercard to launch a cryptocurrency card, the exchange has announced on its blog.
As a result of the cooperation, Australian users will be able to spend cryptocurrencies using Mastercard’s fiat infrastructure in all merchants that accept Mastercard cards.
The card will be available in different formats (digital and physical cards) and can be integrated into payment apps Apple Pay and Google Pay.
The card will support 30 cryptocurrencies, including Bitcoin, Ether and XRP and will work as follows. Users will firstly have to choose the crypto they want to use for the payment, and after that, CoinJar will automatically convert the digital asset into Australian dollars right before the transaction is completed.
According to the crypto exchange, no commission will be charged for the service and the conversion rate will amount to only 1%.