Colorado residents can now renew their driver’s licenses and vehicle registrations using cryptocurrency. The state’s Department of Motor Vehicles (DMV) now accepts cryptocurrency through PayPal for online payments, according to a new press release. The DMV says it will charge a service fee of $1 plus 1.83% of the total transaction cost for paying with […]
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Varus, a retailer with over 100 supermarket stores across Ukraine, has partnered with the world’s leading digital asset exchange, Binance, to launch cryptocurrency payments. Customers will now be able to order groceries online and cover the bill through a Binance Pay wallet. Ukrainians to Shop Online From Varus Supermarket Using Crypto Binance, the largest cryptocurrency […]
Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared […]
An apartment in Portugal has changed hands, with the buyer paying directly in cryptocurrency in a reported first for the country. The home was purchased for 3 bitcoins without conversion to euros, under a new regulation permitting real estate deals with digital currencies. Buyer Pays With Bitcoin for Apartment in Braga, Portugal A three-room (two-bedroom) […]
On The Run (OTR) will work with Crypto.com to implement its Pay Merchant product, with a Sydney payment systems provider rolling out new terminals to allow consumers to pay with crypto.
Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies.
OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its Subway, Oporto, and Smokemart stores. Once the system is finalized in July, it will become the largest business in the country to accept in-store crypto payments.
The company is working with Singapore-based exchange Crypto.com to implement its Pay Merchant service as its payment settlement layer. Datamesh, a Sydney-based payment systems provider, will roll out point of sale terminals allowing shoppers to pay through the Crypto.com app with their cryptocurrency holdings.
Yasser Shahin, Peregrines’ executive chairman, stated that accepting crypto payments was an opportunity to jump on board with the growth of cryptocurrencies, adding:
“The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal, and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers.”
Related: Aussie crypto 'finfluencers' face tough new legal restrictions
A survey by Crypto.com released in February revealed that only 4% of globally surveyed merchants were already accepting cryptocurrencies as payment, although nearly 60% of merchants were interested in accepting payments within the next year.
In comparison, around 40% of customers globally are already paying using crypto, and the other 60% said they’re interested in paying with crypto within the next 12 months.
Of the industry sectors most willing to adopt cryptocurrencies, retail and grocery merchants tied with luxury goods providers, with 80% in each category enthusiastic about accepting crypto payments.
With cryptocurrency use in Australia becoming more prevalent, the Australian government is navigating how to regulate and address its usage. In March, Senator Andrew Bragg announced the Digital Services Act (DSA), a legislative proposal aimed at reforming market licensing, custody, and taxes, stating he wants to see Australia become a “crypto hub” and that the country is “open for business”.
The company says it expects Bitcoin and other cryptocurrencies to come into greater everyday use, especially once tokens become more environmentally friendly.
Seety, a digital parking startup based in Belgium, has introduced crypto payment support for parking tickets.
According to a report by DataNews on Thursday, the company which is one of the firms bootstrapped by Belgian accelerator program Start it @KBC has rolled out a crypto payment feature in Antwerp and Brussels.
Seety users will from Thursday be able to use Bitcoin (BTC) to pay for parking tickets in locations across both cities.
Apart from Bitcoin, customers can also use crypto like Ether (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), and Litecoin (LTC), as well as stablecoins like Dai (DAI) and USD Coin (USDC).
Customers looking to use crypto to pay for parking space will use the “coins” to buy Seety credits on the company’s app platform. According to the report, using crypto will not incur any additional fee on the part of the customer.
The Seety app reportedly has over 355,000 users in Belgium and the Netherlands and is aiming to achieve an annual turnover above 2 million euros by 2022.
For the company, using crypto to pay for parking space is indicative of how cryptocurrencies will eventually gain greater adoption in everyday microtransactions. Seety expects crypto adoption to grow once tokens become more environmentally friendly.
Related: Visa will facilitate USDC payments, thanks to fresh partnership
Using Bitcoin to pay for parking tickets goes as far back as 2014 with the defunct Brawker app. These days, crypto payment options for microtransactions are becoming increasingly popular even though significant hurdles still stand in the way of more broad-based penetration.
Crypto credit cards and stablecoins are also helping to simplify the process of spending cryptos while making it easier for merchants to onboard cryptocurrency payment options on their platforms.
As previously reported by Cointelegraph, Visa recently stated that its crypto-enabled cards had processed over $1 billion in crypto spending in the first half of 2021.
The influencer marketer says prospective buyers can get 10% off the listing price of his house listing if payment is made in Dogecoin.
Crypto as a payment option for real estate continues to gain traction as the adoption of virtual currencies for both commercial transactions continues to take shape.
Scott Paul, the founder of Utah-based marketing agency Wooly, put up his Saratoga Springs home for sale with Dogecoin (DOGE) as an acceptable payment method, according to a report by Fox 13 on Sunday.
While the listing price is set at $399,000, Paul is reportedly ready to offer a 10% discount if the purchase is made via Dogecoin. Commenting on the potential volatility risk associated with a real estate deal conducted via DOGE, Paul remarked: "I’m a very risky person. I think the chances of me selling it in Dogecoin and having it go up by 20%, 30% or 40% is more likely.”
Given the current price of Dogecoin, Paul’s house listing at a 10% discount will amount to 1,734,782.60 DOGE. The eight-ranked crypto is down 72% from its May all-time high as of the time of writing.
The Wooly founder’s background in brand recognition and viral marketing also offers a likely explanation for the decision to accept Dogecoin as a payment option. DOGE is arguably the largest viral meme coin in the crypto space, with its price growth often fueled by the same techniques ubiquitous in the influencer marketing arena.
Related: Law professor calls for crypto mining regulation during US Senate hearing
For Paul, the decision to accept Dogecoin for his house is also part of a longstanding interest in cryptocurrencies dating back to 2015. Paul told Fox 13 that he was an early adopter of Bitcoin (BTC) and Ether (ETH).
As previously reported by Cointelegraph, Bitcoin payments for real estate are on the rise. In June, E11EVEN Hotel and Residences, a Miami-based luxury condo developer announced the receipt of its first crypto deposit for property purchases.
