Croatia’s largest grocery store chain now accepts crypto

Konzum, the most important grocery store chain in Croatia, is maintaining with the instances by debuting funds in cryptocurrencies like Bitcoin (BTC).

The corporate formally introduced on Monday that it now accepts 9 cryptocurrencies for fee in its on-line retailer, permitting clients to make use of crypto to purchase groceries, hygiene merchandise and family provides.

Based on the announcement, the supported cryptocurrencies embrace Bitcoin, Ether (ETH), Bitcoin Money (BCH), EOS (EOS), Dai (DAI), Ripple (XRP), Stellar (XLM), in addition to stablecoins like Tether (USDT) and USD Coin (USDC).

To allow the brand new crypto fee possibility, Konzum partnered with a neighborhood crypto fee processor, Electrocoin, to implement PayCek, a system that permits retailers to simply accept cryptocurrency funds.

Taking into consideration the excessive volatility of crypto costs, the PayCek system ensures patrons a hard and fast alternate charge at first of the transaction, offering sufficient time for profitable execution, the announcement notes. Electrocoin is regulated by the Croatian Monetary Companies Supervisory Company, a spokesperson at Konzum instructed Cointelegraph, including that Konzum won’t maintain any crypto as a part of the initiative:

“With regards to crypto fee, Konzum does not have any interplay with cryptocurrencies, we obtain solely FIAT into our checking account. Electrocoin does the fee processing from crypto to FIAT by means of their cryptocurrency alternate platform in a easy and safe manner.”

The consultant mentioned that Electrocoin plans to activate three extra cryptocurrencies into PayCek by the tip of the 12 months, which might allow Konzum to additionally help funds in Solana (SOL), Litecoin (LTC) and Dogecoin (DOGE).

Whereas Konzum solely accepts crypto on-line in the mean time, it plans to increase the fee possibility throughout its grocery store chain within the close to future. The retailer runs over 700 shops in Croatia and has greater than 10,000 workers. “Funds in bodily shops are deliberate to be obtainable shortly,” the spokesperson added.

Based on Konzum board member Uroš Kalinić, the introduction of crypto funds reveals the corporate’s dedication to international traits and improvements within the retail sector.

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“As the most important retail chain in Croatia, which in its historical past of virtually 65 years is a steady chief within the home market when it comes to enterprise outcomes and technological achievements, we’re proud to be leaders in one other space that’s quickly creating and forming the long run,” he mentioned.