Konzum, the largest supermarket chain in Croatia, is keeping up with the times by introducing payments in cryptocurrencies such as Bitcoin (BTC).
The company officially announced on Monday that it now accepts nine payment cryptocurrencies on its online store so that customers can use the cryptocurrency to buy groceries, hygiene and household items.
Supported cryptocurrencies include Bitcoin, Ether (ETH), Bitcoin Cash (BCH), EOS (EOS), Dai (DAI), Ripple (XRP), and Stellar (XLM), as well as secret coins like Tether (USDT), as per the announcement. … ) and dollar currency (USDC).
To activate the new cryptocurrency alternative, Konzum partnered with local cryptocurrency processor Electrocoin to implement PayCek, a system that allows merchants to accept payments in cryptocurrency.
The announcement notes that due to the high volatility of cryptocurrencies, PayCek guarantees buyers a fixed exchange rate at the start of a transaction, giving sufficient time to complete it successfully. Electrocoin is regulated by the Croatian Financial Services Authority, a Konzum spokesman told Cointelegraph, adding that Konzum will not own any cryptocurrency under the initiative:
“When it comes to payments in cryptocurrency, Konzum does not interact with cryptocurrencies, we only accept FIAT in our bank account. Electrocoin processes cryptocurrency payments to FIAT through its cryptocurrency exchange platform in a simple and secure manner. ”
A spokesperson said Electrocoin plans to activate three more digital currencies in PayCek before the end of the year, which will allow Konzum to support payments in Solana (SOL), Litecoin (LTC) and Dogecoin (DOGE).
Although Konzum currently only accepts cryptocurrency online, they plan to expand payment options in supermarket chains in the near future. The agent operates over 700 stores in Croatia and has over 10,000 employees. “In-store payments should be available soon,” the spokesperson added.
According to Konzum board member Uroš Kalinich, the introduction of cryptocurrencies demonstrates the company’s commitment to global trends and innovations in the retail sector.
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“As the largest retail chain in Croatia, which has been the leader in the domestic market in terms of business results and technological performance for almost 65 years, we are proud to be pioneers in another field that is rapidly evolving and shaping the future.” he.