Australian convenience store OTR to accept cryptocurrency payments

When the change is completed in July, OTR will become the largest brick-and-mortar retailer in Australia to use digital currency as a payment mechanism.

In addition, the company's parent company, Peregrine Corporation, will accept cryptocurrency payments at its Subway, Oporto and Smokemart locations. Yasser Shahin, Peregrine's executive chairman, commented on the situation.

"It is incredible that the rise and widespread acceptance of cryptocurrency adoption in Australia and other parts of the world provides us with a clear opportunity to leverage the momentum of this rapidly growing market for the benefit of our customers."

Karl Mohan, managing director of CryptoCom Asia Pacific, said the partnership will "make further progress in increasing the adoption of bitcoin in Australia." He said, "Customers can now use CryptoCom Merchant Pay to purchase goods and services at all OTR stores."

Australia has been focused on cryptocurrencies.

Recently, Australia has shown a strong interest in the bitcoin market. Federal Treasurer Josh Frydenberg has advocated for a "crypto asset reform plan" by the end of 2021, which could make the country a world leader in the digital asset space.