Bitcoin.com.au officially launched in Australia on Friday in partnership with more than 1200 retail outlets in order to offer users the most convenient way to buy Bitcoins in the country.

Bitcoin.com.au will allow over-the-counter bitcoin purchases for cash across the selected retail network of 1200 news agencies in Sydney, Melbourne, Brisbane, Adelaide, Perth and all major regional areas, Allcoinsnews reported. In order to boost bitcoin adoption, the platform claims to offer lowest fees and says that it lowering barrier to entry - anyone can purchase Bitcoin with a minimum transaction of $50 and a 4% fee.

“We see this as a major development towards new user adoption and legitimacy towards the Bitcoin ecosystem. By lowering the barrier to entry and creating a tangible, physical experience, new users can now safely buy Bitcoin on their way home from work”, said Rupert Hackett, General Manager of bitcoin.com.au.

Bitcoin.com.au has partnered with fintech solutions business blueshyft, a Sydney-based start-up backed by magazine publisher Matt Handbury, to create the first retail branded Bitcoin payment channel in Australia.

“We’ve built a software platform which is installed in 1200 news agencies that effectively transforms individual agents into a unified  network of digital convenience stores. blueshyft is a Retail Network as a Service, which means we can offer a physical footprint to digital businesses, these businesses can then extend their services into convenient physical locations. It also allows them to tap into the massive cash economy”, said Kain Warwick, CEO of blueshyft.

The platform is operated by Global Internet Ventures, a company backed by Domenic Carosa, an early investor in the budding bitcoin and blockchain industry in Australia. Global Investment Ventures/Bitcoin.com.au are members of the Australian Digital Currency Commerce Association (ADCCA) and are working with Anti-Money Laundering and Know Your Customer (AML/KYC) companies to create solutions to foster a legitimate environment for this technology in the country.

“We are working with the Australian Digital Currency Commerce Association to help foster regulation for the industry in Australia. We believe it is our responsibility to encourage growth technology by working with the community, industry and government to make sure that Bitcoin is regulated in such a way that fosters its innovative potential”, Hackett said in a blog post.