Australian buy now pay later (BNPL) giant Afterpay — now part of Jack Dorsey’s Square — has said that it is likely to pursue cryptocurrency services once the regulatory framework is clear.
Following on from Afterpay’s submission to the Senate inquiry into “Australia as a Technology and Financial Center” which posited that merchants could slash payment costs by utilizing cryptocurrencies, representatives spoke to the inquiry on Sept. 8.
Afterpay’s vice president for public policy and communications Damian Kassabgi said that “this idea of being able to exchange currencies from person to person or to a merchant without going through the traditional rails could create a lot of efficiencies.”
Crypto-friendly Liberal senator Andrew Bragg asked if Afterpay had plans to offer crypto services in the future. Lee Hatton, the executive vice president at Afterpay responded that once the regulatory path was clear, the firm would be likely to meet the demand of crypto from its customers:
“Once we’re able to understand the