Aus Merchant: Sydney startup launching business-to-business crypto platform
A Sydney startup is emerging from stealth mode to help high-end Australian retailers accept cryptocurrency payments in a safe and legal manner consistent with modern accounting standards.
Aus Merchant has already seen its “minimum viable product” offering used by 15 merchants this year, including Sydney “dream car supplier” Scuderia Graziani, whose clients have used crypto to buy a dozen different sports cars in the first half of 2021, including a $663,000 2019 Lamborghini Aventador.
It plans to launch the platform more broadly within the next three months, along with a crypto managed investment scheme.
Chief executive Sean Tolkin, 29, and managing director Mitchell Travers, 26, founded the now 15-person company last year after meeting through Sydney’s boating scene.
The company’s blockchain back-office platform allows businesses to generate invoices for crypto payments in Australian dollars, in a format that easily integrates with Xero’s (ASX:XRO) cloud accounting platform.
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Source: Aus Merchant: Sydney startup launching business-to-business crypto platform – Stockhead