Afterpay shared his point of view on crypto business expansion but the company claimed that they want to see crypto regulation rules clear and understandable.
In the present time, crypto adoption is at a better level, and also the rules of Australian regulators are working to provide a better framework to use crypto and operate crypto businesses. But there are some issues where crypto companies fail to understand why they are facing problems, even following all the rules, regulation and guidelines imposed by the regulators.
Related: Australian crypto Companies tell Senate inquiry about being banned by banks up to 91 times
Afterpay speaking to the Senate inquiry into “Australia as a Technology and Financial Center ” on the matter of making the merchant fees efficient.
Damian Kassabgi, Afterpay’s vice president for public policy and communications, said that this idea of transactions between person to person or person to Merchant can be efficient if we can eliminate the traditional rails.
Then senator Andrew Bragg said that if Afterpay had plans to offer crypto services in the future, then the executive vice president at Afterpay responded on this matter and said that if once all the regulation systems clearfield then surely they will meet the demand of their users.
“Once we’re able to understand the regulatory framework in this space, we can absolutely see where our customers are going. And it would seem to us that they are going to want to participate in this way.”
Further Lee Hatton added
“We will absolutely see a part of our customers starting to leverage and we would absolutely be looking for a way to support them to do that”
Afterpay is a Buy Now Pay later (BNPL) payment giant company and now it has a tie-up with the Square firm. So Indirectly we can say, Afterpay is also playing a role in providing crypto services. And probably they don’t want a long systematic process to go on with a single payment between two parties.
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