Convenience Store Giant in Australia to Start Accepting Crypto

An Australian convenience store giant will start accepting cryptocurrency at 170 outlets.

On The Run (OTR), a gas station and convenience store giant, will soon accept payments in cryptocurrency at its 170 outlets across Victoria and South Australia. The move will enable customers to pay for snacks, gas, and even a Subway sandwich using 1 of the 30 supported cryptocurrencies.

The Peregrine Corporation, the parent company of OTR, will also start accepting cryptocurrency at its Subway, Smokemart, and Oporto stores. Once the system is finalized in July, it will become the largest business in the country to accept payments in cryptocurrency.

The company is working together with Crypto.com, an exchange platform based in Singapore, and will use Crypto.com’s Pay Merchant service as its payment settlement layer. A Sydney-based payment systems provider, Datamesh, will also roll out point of sale (POS) terminals that will allow shoppers to make payments through Crypto.com.

Peregrines’ executive chairman, Yasser Shahin, stated how accepting cryptocurrency payments was an opportunity to become a part of the expanding cryptocurrency industry.

Shahin added, “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.”

With the widespread use of cryptocurrencies in Australia, the Australian government is still exploring how to regulate and address the usage of cryptocurrencies. Senator Andrew Bragg announced the Digital Services Act (DSA) in March. The DSA is a legislative proposal aimed at reforming custody, market licensing, and taxes, with the aim of turning Australia into a “crypto hub”.