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Croatia’s Largest Supermarket Chain Konzum Now Accepts Crypto

Konzum has enabled bitcoin payments in its online shop, with plans to soon add the option in its physical stores.

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Konzum, the largest supermarket chain in Croatia has enabled bitcoin payments in its online shop. The company said in a statement Wednesday. Konzum has become the first local retail chain to offer customers to purchase everyday consumer items with Bitcoin.

The company commented that:

As of today, December 1, 2021. it is possible to buy cryptocurrencies in our online store, free of charge. Cryptocurrency owners can buy and pay for groceries, hygiene and household items and other products from the rich offer of our online store with more than 12,000 products.

According to the announcement, the company supported nine different cryptocurrencies that includes  – Bitcoin (BTC), Ether (ETH), Bitcoin cash (BCH), EOS, DAI, Ripple (XRP), Stellar Lumen (XLM), Tether (USDT) and USD Coin (USDC).

“As the largest retail chain in Croatia, which in its almost 65-year history is a continuous leader in the domestic market in terms of business results and technological achievements, we are proud to be leaders in another area that is rapidly developing and dictating the future,” Konzum board member Uroš Kalinić said.

 

To enable the new crypto payment option, Konzum partnered with a local cryptocurrency brokerage and crypto-payment processing company Electrocoin, to implement PayCek, a system that allows merchants to accept cryptocurrency payments. Taking into account the high volatility of cryptocurrency prices, the PayCek system guarantees buyers a fixed exchange rate at the start of the transaction, providing enough time for successful execution, the announcement notes.

While Konzum only accepts cryptocurrency in their online shop only at the moment, it plans to expand the crypto payment option across its supermarket chain in the near future. The retailer runs over 700 stores in Croatia and has more than 10,000 employees.

“We continue to invest in the development of innovations and technologies in order to remain the first choice for our customers and as a next-generation retail chain to provide a premium shopping experience,” Kalinić added.

 

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