A startup founded by two partners at the University of Technology Sydney (UTS) has convinced global credit card giant Visa to approve the issuance of physical debit cards that will allow users of the CryptoSpend app to spend their Bitcoin transaction profits on existing payment terminals by spending them in shops and bars.
This is the first time cryptocurrency can be paid for using debit cards issued in Australia, which operate on the network of one of the international card programs, and highlights a global initiative by Visa and MasterCard to make it easier to use bitcoin and other digital currencies to pay for everyday items.