Fintech Cointree now lets you pay bills with cryptocurrency

- May 31, 2019 < 1 MIN READ

Digital currency exchange Cointree has launched the ability to pay everyday bills using cryptocurrency after signing a deal with AI bill payment platform Gobbill.

The deal allows Australians to pay bills via BPAY using more than 100-plus supported coins. Founded in Melbourne in 2013, Cointree has more than 60,000 members and processed in excess of $100 million worth of transactions.

The rollout follows a trail involving  bill payments  Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH).

Cointree says it will offer lower fees on bill payments than its competitors, ranging between 0.5% and 0.9%.

Cointree operations manager Jess Renden. Photo: supplied

Operations Manager Jess Renden said users had been asking for the bills option for some time.

“Our members were looking for an easy and safe way to use cryptocurrency because they recognise the enormous utility for both personal and business transactions. Our partnership with Gobbill enables this, combined with the benefit of reducing fraud to ensure our members’ security,” she said.

“As crypto becomes more mainstream we want to incorporate it into our member’s everyday lives to provide a variety of services and options. We’re already seeing crypto being used to pay bills including credit cards, rent, utilities, memberships, ATO bills, travel cards, phone bills and more.”

Gobbill CEO and co-founder Shendon Ewans said he expects the company’s annual payment volumes to more than double on the back of the Cointree partnership.