Australians will now be able to pay their bills using cryptocurrency, thanks to a new deal between Cointree and automated billing platform Gobbill.
Even if a business does not accept crypto as payment itself, reports Financial Review, Gobbill will take user funds and pay bills on their behalf.
Shendon Ewans, Gobbill co-founder, said: “We’ve grown to a point where we’re now capital raising… for the first two years it was just my co-founder and I and it was a lot of research and development and testing.
“We only launched in the last year, and we have a small number of users, but the partnership with Cointree and with our other with MyProsperity we’ll see more growth.”
Cointree, which launched in 2013, now has 60,000 active members and deals with 40 types of cryptocurrency including Ripple, Litecoin, Bitcoin and Ether.
Jess Renden, Cointree operations manager, added: “Last year alone we had about $100 million of bills paid in Australia and saw ten times growth in this payment feature.
“The market goes up and down. All of us would like a magic ball that could tell us when it will go up and down next, but we have a lot of different customers with different investment strategies. It’s not always dependent on price dips and highs.”
For Ewans, he did not naturally take to the digital currency world until recently, as it has become more and more part of the mainstream.
“I have traded, but not very successfully,” he said. “That was the appeal of Cointree. I’m a novice and I’m surrounded by… deep crypto specialists. Fast forward into the future and what we’re seeing is, like it or not, this will be part of our daily lives. Gobbill already let people pay bills from their cards or bank accounts, so now they can pay in cryptocurrency too.”