AXS to accept digital currencies in tie-up with crypto payment firm
SINGAPORE – Users of AXS in Singapore can now pay a multitude of bills, fines, taxes and student fees in digital currencies, following a tie-up that opens up a new payment option in the market.
Popular bills payment platform AXS and cryptocurrency payment firm Triple-A said on Jan 23 that they have teamed up to allow people to use four digital currencies for 550 of the 600 AXS payment services.
This excludes all 50 AXS services relating to credit cards and bank loans.
Users can choose to pay in either Bitcoin, Ether, Tether or USD Coin.
This means that members of the public can make top-ups or pay their recurring bills, such as road tax and enrichment class fees, in the four cryptocurrencies.
For instance, when a payment for a town council bill is made in Bitcoin, the payment goes to Triple-A, which acts as a gateway.
The transaction is settled in one business day, with Triple-A instantly converting the amount of bitcoins paid into Singapore dollars and then crediting the sum into AXS’ bank account.
For now, the option to pay in cryptocurrencies is available only on AXS’ mobile app.
The two firms aim to roll out the service to the 650 AXS machines islandwide and the AXS website in the second quarter of 2024.
