14:48 GMT04 August 2021
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    The initiative is aimed at attracting more visitors and making it easier for them to buy goods and services.

    Agnes Water, an Australian tourist town, has declared itself the first "digital currency town" as it now accepts payments in digital currency along with ordinary credit cards and cash, Chepicap reported.

    The initiative was launched by a local start-up TravelByBit and is aimed at attracting more tourists to the area.

    "If you travel around the world you have to deal with multiple currencies, the exchange rate can be confusing, sometimes you struggle to find ATMs, and sometimes you get swindled by money changers… Traveling with one global currency like Bitcoin… makes sense," Caleb Yeoh, CEO of TravelByBit, said.

    Last week, the company released a new app which allows travelers to make payments in digital currency in shops at Brisbane Airport.

    READ MORE: Quebec's Flip-Flop Policy on Cryptocurrency Mining Takes Another Turn

    Although Australia has not officially accepted cryptocurrency as a means of payment, over 30 stores in Agnes Water have fully embraced the new concept.


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    Australia, payment, business, town, tourists, cryptocurrency
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