Croatia’s largest supermarket chain now accepts crypto

Konzum, the largest supermarket chain in Croatia, is moving with the times by introducing payments in crypto currencies such as Bitcoin.

Konzum accepts 9 crypto currencies

The supermarket chain has Monday officially announced that it now accepts nine (9) crypto currencies for payment on its online store. This allows customers to use crypto to buy groceries, hygiene products and household items. The company announced this via a blog post on their website.

According to the announcement, these include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS (EOS), Dai (DAI), Ripple (XRP), Stellar (XLM), and stablecoins such as Tether (USDT). and USD coin (USDC).

To enable the new crypto payment option, Konzum partnered with a local crypto payment processor, Electrocoin. This was necessary to implement PayCek, a system that allows merchants to accept cryptocurrency payments.

Taking into account the high volatility of crypto prices, the PayCek system guarantees buyers a fixed exchange rate at the start of the transaction. This leaves enough time for a successful implementation. Electrocoin is regulated by the Croatian Financial Services Supervisory Agency. A Konzum spokesperson said, adding that Konzum will not hold crypto as part of the initiative:

Not just online acceptance

The representative said that Electrocoin plans to add three more cryptocurrencies to PayCek by the end of the year. This will also allow the supermarket chain to support payments in Solana (SOL), Litecoin (LTC) and Dogecoin (DOGE).

Currently, Konzum only accepts online crypto. However, it plans to expand the payment option to its supermarket chain in the near future. The retailer has more than 700 stores in Croatia and more than 10,000 employees. The spokesperson added the following:

Payments in our stores will also be available from soon.”

According to Konzum board member Uroš Kalinić, the introduction of crypto payments shows the company’s commitment to global trends and innovations. Kalinić reported the following:

“As the largest retail chain in Croatia, having been the leader in the domestic market for nearly 65 years in its history in terms of business results and technological achievements, we are proud to be leaders in another area that is developing rapidly.”

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