Following its crypto ambition, the Australian Convenience store and gas station giant On The Run (OTR) is planning to start accepting crypto payments at 170 outlets across South Australia and Victoria from the month of July.
As per reports, with this development, customers can now pay for gas, snacks and even a Subway foot long in over 30 cryptocurrencies.
OTR’s mother company the Peregrine Corporation which is one of the largest privately-owned companies in South Australia would also be accepting cryptocurrency at its Oporto, Subway and Smokemart stores.
As soon as the system is finalized, it will become the largest company in the country to accept in-store crypto payments.
The company is partnering with the exchange Crypto.com which is also the official sponsor of the upcoming FIFA World Cup Qatar 2022, to execute its Pay Merchant service as its payment settlement layer. The payment systems provider Datamesh will also commence point of sale terminals, further allowing customers to pay through the Crypto.com application with their cryptocurrency holdings.
Peregrines’ executive chairman, Yasser Shahin claimed that by accepting crypto payments one can catch up with the growing trend 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.”
As cryptocurrency use in Australia becomes more rampant, The Australian Securities and Investments Commission has introduced strict legal restrictions for financial crypto influencers to protect investors and promote market integrity.