Australia's Leading Gas Station Chain Accepts Cryptocurrency for Fuel
On The Run (OTR) has launched support for cryptocurrency payments at 175 gas stations and convenience stores in the states of Victoria, South Australia and Western Australia. The move is part of a collaboration between OTR, Singapore-based exchange Crypto.com and Australian payment system provider DataMesh.
Crypto.com will provide its Pay Merchant service as a payment settlement platform, and DataMesh will provide a terminal for points of sale. Under the plan, Crypto.com will charge zero fees on the transactions, but there will be a cost on the merchant’s end, which will set their own rates.
According to an Australian Securities and Investments Commission (ASIC) report published in early August 2022, over 1,000 retail investors in Australia were surveyed and 44% of respondents indicated they own cryptocurrencies. ASIC Chairman Joe LONGO noted that the growth of assets such as Bitcoin and Ethereum means the need for regulation of this sector.
Image: The Australian