A partnership between a bill payment company and a crypto exchange will allow Australians to pay their bills with between 50 and 100 cryptocurrencies. Customers can use any coins in their Cointree accounts to pay their bills regardless of whether the billers accept cryptocurrency.
Gobbill Partners With Cointree
Bill payment company Gobbill and cryptocurrency exchange Cointree jointly announced a partnership on August 20 to enable Australians to pay bills using cryptocurrencies.
The announcement reads, “the global alliance [between the two companies] will allow users from both platforms to pay household bills using their crypto coins stored in Cointree’s wallet.” Gobbill’s website states that bills issued from any Australian provider can be paid through its system, including utilities, telecommunications, council rates, and insurance.
A Cointree representative told news.Bitcoin.com:
We are currently working on the integration with Gobbill to allow bill payments to be paid using any coin listed on our exchange.
He clarified that the integration will be completed in approximately one month when users will be able to pay their bills with any cryptocurrencies. Until then, members can pay their bills with just BTC using the Cointree platform.
The companies explained that Gobbill’s users “can link a crypto wallet in their account and elect to pay their bills either by credit card, bank account or a specified cryptocurrency regardless of whether the biller accepts the desired payment method.”
Claiming to have over 50,000 members, Cointree says that it has transacted over AU$100 million (~$74 million) worth of cryptocurrencies. The company is registered with the Australian Government regulatory and monitoring body for AML/CTF. Gobbill is an authorized representative of an Australian Financial Services Licence holder.
Paying Bills With 50-100 Coins
Currently, Cointree.com lists 27 cryptocurrencies on its website: ADA, AE, AION, BCH, BTC, DASH, DGD, ES, ETC, ETH, ICX, IOST, LTC, NEO, OMG, ONT, PPT, QTUM, REP, SNT, TRX, VEN, XEM, XRM, XRP, ZL, ZRX.
However, the exchange’s representative told news.Bitcoin.com that “we have listed 10 more,” adding that “it will be live when [the] next update is deployed (this week/early next).” The new listings are ZEC, LSK, BTG, DCR, SC, STEEM, GNT, DGB, BAT, and KMD.
Once the integration with Gobbill is complete, the exchange expects to list “50-100 coins,” the representative shared.
He further noted that in two months, add-on features are expected to be launched, mainly on Gobbill’s end. For example, customers will be allowed “to swap or change utility providers [and] then those bills are updated on the platform.” However, he noted that these features are still being discussed and are not yet confirmed.
Some Other Crypto Bill Pay Services in Australia
In Australia, several other services already exist that allow bill payments with a small number of cryptocurrencies.
Living Room of Satoshi has long offered a way to pay Australian bills with BTC. The service currently offers the ability to pay with BTC, BCH, 11 other cryptocurrencies, and BTC through the lightning network. Its website states that over 100,000 bills have been paid using its platform.
Bit2bill and Paid by Coins also offer Australians the ability to pay their bills with a small selection of cryptocurrencies. Bit2bill allows payments in BTC, LTC, and ETH. Paid by Coins also supports the three cryptocurrencies in addition to LTC and XRP.
What do you think of Cointree and Gobbill allowing bill payments in 50-100 cryptocurrencies? Let us know in the comments section below.
Images courtesy of Shutterstock, Gobbill, and Cointree.
Need to calculate your bitcoin holdings? Check our tools section.