Bitcoin debit cards are becoming more widely available for Australians. All thanks to Visa recently approving the issuance of a new Bitcoin debit card for CryptoSpend, a Sydney-based crypto company.
CryptoSpend co-founders said that the major local payments company Novatti will be issuing the new card, which is slated to launch in September.
Cardholders of this new debit card can shop at local merchants with Bitcoin and other cryptocurrencies such as Ether, XRP and Bitcoin Cash. Leading digital asset company BitGo will be the custodian of the users’ crypto holdings.
Spending it directly is a more convenient way of selling it. If the market is green, someone could say it’s time to spend some of my profits. On the other side of the fence, another person might say it’s going to keep going up, I’ll hold onto it. But we have seen more spending volume when the price is going up.
Andrew Grech, Co-founder of CryptoSpend
Prior to this, Visa has already approved the issuance of crypto debit cards in Australia for several other global crypto exchanges such as Binance. However, they have yet to be made available in the country.