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Fintech startup to let Aussies pay their bills using cryptocurrency


Fintech startup to let Aussies pay their bills using cryptocurrency

At a time when most of the institutions and organizations are viewing cryptocurrencies with a cynical approach, cryptocurrency exchange Cointree and automated billing platform Gobbill will now let Australians pay bills with cryptocurrency.

Gobbil and Cointree are fintech start ups which will act as a bridge and take funds from its users and pay the bills on their behalfs.

The co-foundet of Gobbill, Shendon Ewans admitted that he was too late to adopt the digital mode but he also said that what made a partnership with Cointree attractive.

"I have traded but an opportunity to partner with Cointree made it attractive. I am new but Stone and Chalj who are deep crypto specialists," he added.

Gobbill possess an Australian financial services license under ASIC and Cointree has a license of AUSTRAC for meeting anti-money laundering and countering terrorist financing obligations.

Mr Shendon said that Gobbill was still pre-revenue but the start up is gradually climbing the ladders of success.

"We have grown to a point where we are now raising capital, for the first two years it was only my co-founder and me who were doing most of the research and development work," he said.

Cointree was launched in 2013 with a motive of making it easier for people to make digital transactions and it now has 60,000 active members who have facilitated a transaction worth 100 million.

"Last year alone we had about $100 million of bills paid and registered ten times growth in this payment feature," he added.