Croatia’s largest supermarket chain now accepts crypto

Konzum, Croatia’s largest grocery chain, is keeping up with the times by accepting cryptocurrency payments such as Bitcoin (BTC).

On Monday, the firm said that it now takes nine cryptocurrencies as payment in its online shop, allowing users to buy food, hygiene items, and household goods using cryptocurrency.

Bitcoin, Ether (ETH), Bitcoin Cash (BCH), EOS (EOS), Dai (DAI), Ripple (XRP), Stellar (XLM), and stable coins like Tether (USDT) and USD Coin are among the supported cryptocurrencies, according to the release (USDC).

Konzum teamed with a local crypto payment processor, Electrocoin, to develop PayCek, a system that allows retailers to accept cryptocurrency payments, to enable the new crypto payment option. Because of the extreme volatility of cryptocurrency values, the PayCek method gives customers a set exchange rate at the start of the transaction, giving them ample time to complete it successfully, according to the statement.

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While Konzum now only takes cryptocurrency as a form of payment online, the company intends to expand the payment option throughout its whole grocery network in the near future. The business employs approximately 10,000 people in Croatia and has over 700 outlets.

The introduction of crypto payments, according to Konzum board member Uro Kalini, demonstrates the company’s dedication to global trends and developments in the retail industry.

“As Croatia’s largest retail chain, which has been a consistent leader in the home market in terms of business outcomes and technological achievements for nearly 65 years,” he added, “we are happy to be leaders in another field that is fast evolving and defining the future.”