Sydney, Australia – Live News – Boosting Marketers
Grineo, a FinTech startup aiming to bring digital currencies to the physical world, has announced the launch of its long-awaited “debit card and wallet app” exclusively in Australia by early 2024. The app and card allow users to store and trade cryptocurrencies as well as spend them like cash. In stores or withdrawing cash from ATMs, bringing much needed adoption into the world of cryptocurrencies.
Grineo’s founders first came up with the idea during a business meeting in Melbourne in 2022, where they saw the huge potential of stablecoins as a store of value for investors.
They also realized that Australia lagged significantly behind its peers when it came to the number of digital startups per person, the amount of investment in digital asset companies, and professionals with technical skills. However, according to their estimates, if Australia can adapt to blockchain and digital assets despite these issues, it will be able to save AU$160 per person per year in international transaction fees and up to 80 hours per small business in compliance and administrative costs. .
Grineo will officially launch in Q1 2024, becoming the catalyst for this much-needed change in the Australian market.
Grineo users can spend cryptocurrencies without additional exchange fees wherever major cards are accepted, with the conversion taking place in real-time at the point of sale. With thousands of users on the waiting list from Sydney, Melbourne, Perth and Brisbane, Grineo continues to expand its reach across Australia.
“The size of the Australian market in terms of transaction revenue is a very niche for a cryptocurrency card provider that only generates $17 million in revenue annually,” said Olesya Kosteeva, Chief Expansion Officer at Grineo. “Our philosophy is that digital currency payments should be available to everyone, everywhere.”
With Grineo, consumers can unleash the power of cryptocurrencies by opening a free account and accessing a physical card in just a few business days. They can also get an instant virtual card for immediate use. All transactions take place on the Grineo platform, without any intermediary processes slowing things down. Asset swaps are arranged easier or more affordable. The platform features a range of features, from customizable notifications to sophisticated asset management tools. Behind the scenes, Greenio is working to revolutionize the financial system by giving cryptocurrencies the same level of play as traditional currencies, including the Australian dollar. So, fewer restrictions and endless possibilities with the Grineo payment app.
“It’s an all-in-one app,” Kostyeva said. “Since Grineo stores your digital currency alongside your fiat currency, there is no need to go back and forth with your bank or top up the amount via bank transfer and wait several days for it to settle.”
But what sets Grineo apart is its commitment to transparency and low fees. Thanks to exclusive rates and automatic conversion of the best possible live rates, users can save a significant amount of money on foreign transactions. Fee-free ATM withdrawals are also available. Additionally, by Grineo partnering with regulated card companies and banks, users can have confidence that their assets are safe and compliant.
According to Kostaeva, using stablecoins to purchase goods and services may still pose some challenges. However, with the revolutionary Grineo platform, one can easily leverage USDT in Sydney or easily offset others in Ethereum.
As Grineo prepares to enter the Australian market, it has maintained a close relationship with regulatory bodies in Australia, having already launched its AUSTRAC-regulated startup in the summer of 2023. This designation gave Grineo access to networks and platforms, cementing its position as a potential leader in the cryptocurrency space.
In addition, Grineo partners with regulated card companies and banking partners to offer a comprehensive range of traditional and digital currency payment services across its key market of Australia. All while maintaining the highest standards of security and compliance.
Kostieva shared that the high standards set by the organizational players only serve to inspire and motivate their team, as they feel a great responsibility to ensure Grineo’s success. As they look to revolutionize the way we spend and exchange currencies, Grineo is ready to make its mark in the world of fintech.
About Greenio
Discover the innovative world of GrineoPay – the ultimate gateway to Australia’s cryptocurrency economy. Led by the Grineo Wallet & Card app, our carefully designed product suite is designed to meet the needs of all levels of users with its intuitive interface and advanced trading features. Our fully regulated company, Grineo Pty Ltd, is headquartered in the bustling cities of Sydney and Melbourne, and supported by a team of banking and fintech experts. Be part of the cryptocurrency revolution and join us at our headquarters located on Level 14, 5 Martin Place, Sydney, NSW 2000, Australia. Organized by AUSTRAC. Unleash the potential of digital currency with GrineoPay – visit our website https://grineopay.com now!
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