The growing prominence of cryptocurrencies is evident with more than eighteen thousand enterprises making use of digital assets payment services, ranging from eCommerce retailers to tech giants. Australia is looking forward to being a global crypto hotspot, and PayBito offers an additional boost by providing its crypto payment gateway to one of its major financial institutions.
Global Crypto Market
The market is currently at $941 billion, with transaction volume exceeding $46 billion daily. Given the current recession, this is an enormous growth. With the recent changes in Australian crypto regulation, this collaboration will promote better growth and innovation in this field.
Also Read: What is a Crypto Broker White Label Platform? How Does It Work?
CEO Speak
Raj Chowdhury, the Chief of PayBito and a noted blockchain pioneer, stated, “The crypto community has been pushing for progressive regulations to enable a standardized framework for next-gen digital solutions. Adherence to the government-prescribed protocols boots interactions between crypto service providers and consumers in both retail and enterprise segments.”
The Crypto Scenario in Australia
ASIC (Australian Securities & Investments Commission) recently mentioned that 44% of its citizens have digital assets. Thus, venturing into the digital crypto world is essential for future growth. Leveraging crypto payment gateways and other associated services can help to bypass several hurdles in development, setup, and compliance.
“The latest collaboration in Australia will propel a jump in crypto adoption. Crypto payment processors are occupying a key position in cross-border payments and remittances. The growing global acceptance of digital asset payments will drive the digital revolution to greener pastures in the future,” concluded Chowdhury.
Wrapping Up
The rising use of crypto assets has propelled governments around the world towards planning regulations for effective monitoring and prevention of money laundering. The implications will be in fact beneficial to the crypto community as it will enable the transfer of assets across borders at fractional processing charges, with authorization from the government.
Source: https://finance.yahoo.com/news/paybito-offers-crypto-payment-gateway-070000333.html
