Cryptocurrency exchange Cointree and automated billing platform Gobbill, have inked a partnership for the payment of bills using cryptocurrencies.
The deal stipulates that Gobbill would perform the functions of an intermediary under the agreement, taking users’ funds and paying bills on their behalf.
The deal would let users of the two platforms pay their bills using the digital assets kept in Cointree’s wallet. At the moment, Cointree supports 40 cryptocurrencies and this includes major ones such as bitcoin, ether, XRP, NEO and litecoin.
In addition, users of the Gobbill platform would be able to connect their cryptocurrency wallet to their accounts and have their bills paid using a particular cryptocurrency. The service is primarily aimed at small businesses and households.
The co-founder and CEO of Gobbill, Shendon Ewans, said that the initiative is geared at meeting current and projected demand.
“We anticipate a surge in the number of customers who would like to pay their bills in crypto in the coming years,” said Ewans in a statement. “Our partnership with Cointree will cater to this market and ensure Gobbill continues to remain ahead of the curve when it comes to allowing our users to pay their bills automatically, while knowing they’re protected from fraud and scams.”
Before the partnership, Cointree, which boasts of an estimated 100 million transactions since it was established five years ago, already had a service that allowed users to pay bills using cryptocurrencies. With the partnership, it is hoped that the utilization of cryptocurrencies in paying bills would expand.
“Last year alone we had about AU$100 million of bills paid and saw ten times growth in this payment feature,” said the operations manager of Cointree, Jess Rendon.
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