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Croatia’s supermarket chain, Konzum, now accepts payments in nine cryptocurrencies

Konzum

TL;DR Breakdown

  • Croatia’s most dominant supermarket is adopting nine cryptos as a transaction currency.
  • The deal involves Electrocoin, which uses PayCek to administer the trade.
  • PayCek system offers clients a fixed exchange rate and a good time during the trade.

Croatia’s most prominent retail store, Konzum, is expanding its niche by accommodating crypto as a form of payment. The retail chain is adopting payments from digital tokens.

The enterprise made it clear that it is welcoming nine cryptos for purchases that are made online. The move mandates clients to use cryptos in making regular household purchases.

From the statement, the nine cryptos include, Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and EOS (EOS). Other forms are Dai (DAI), Ripple (XRP), Stellar (XLM), and stablecoins like Tether (USDT) and USD Coin (USDC).

Konzum uses a local partner, Electrocoin, in crypto transaction

Konzum is liaising with Electrocoin, a crypto payment firm, to install PayCek. PayCek is a famous system that gives traders the ability to service crypto transactions. Cryptocurrencies are very volatile. Yet, PayCek has procedures in place that provide buyers with a fixed exchange price. This allows enough time for complete trade. The news stated.

Currently, the retailer only accepts cryptocurrency for online clients. But, it has laid ambitions to get crypto transactions across its entire stores in the country. The enterprise operates more than 700 chains in Croatia. So far, it has above 10000 staff.

From the board of management’s view, the firm responds to modern trends and dynamics well. The acceptance and incorporation of cryptocurrencies into payment is a great example. The firm believes that it stands for innovations and creations in the retail sector.

Konzum has a futuristic strategy that aims to outrun all competitors

This step is essential for the retailer. It gives convenience to the client and positions Konzum as a futuristic store. This will ensure it has a competitive look over its competitors. Again, the firm is planning to launch crypto payments for its physical shops in the whole country.

Konzum is the largest supermarket in Croatia. For the 65years of its existence, the enterprise has topped the domestic markets. No competitor has ever matched its prowess. The firm has always taken the lead in technology advancement and profitability. And now, the retail chain is taking the lead in adopting several cryptos as a transaction medium. This indicates the flexibility and adaptability of the store in aligning with changes.

The marvelous store has faith the move will be profitable and beneficial. Among their expectation is an increased client base. Adopting crypto always leads to new clients and more sales. So, that is the dream of the enterprise.

The store’s manager believes that the move is excellent. “The world is drifting towards cryptocurrency and blockchain technology. There are hesitations from several countries to adopt cryptos. But, more enterprises are accepting it globally. There might be a possibility of governments buying into adopting digital tokens. This would be informed by how several enterprises have adopted it.

Edith Muthoni

Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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