• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Bitcoin debit card doesn't match the hype

19 September 2014 4:14PM
Local bitcoin exchange operator CoinJar has launched a payment card pilot that promises to "make bitcoin accessible for everyone" and "allow bitcoin holders to spend their digital currency anywhere they like."The reality is not so exciting. CoinJar has teamed up with prepaid card specialist emerchants to trial the card, called CoinJar Swipe.Bitcoin holders trade bitcoin for Australian dollars through CoinJar, which then purchases a prepaid card on the customer's behalf. The card is reloadable.The prospect of allowing people to spend their actual digital currency "anywhere they like" is still some way off.CoinJar chief executive Asher Tan said the business was started in the middle of last year and since then has received some venture capital funding. It has traded A$50 million of bitcoin since it started and Tan estimates that there are 500,000 people in Australia holding the virtual currency.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use