Croatia’s Largest Food Retailer Konzum became the first to accept crypto


Konzum from Croatian, a popular and largest food retail shop network, became the first to accept digital assets-based payments. 

Day by day adoption of the crypto assets is going to the next level. People are not only investing in crypto but also using it in their unique ways. No doubt that Regulators of almost every country are trying their best to impose restrictions on the crypto industry to restrict all the crypto users limited to crypto trading instead to use for payment purposes. But eager crypto users are not lagging to use crypto for payment purposes. And due to the increased demand for crypto for payment purposes, many businesses are trying to integrate their services with crypto. 

In the latest, Konzum, the largest food producer and retailer in the Western Balkan region, became the first-ever retail shop network in the Western Balkan to adopt a crypto assets-based payment facility for their retail users. 

In this initial phase of crypto integration, Konzum will allow its users to use the crypto payments in online stores only. However, the company revealed that they are also planning to implement this service in the offline stores also. 

Right now, a total of 9 flagship assets-based payment is allowed. These assets are Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Dai (DAI), EOS (EOS), Tether (USDT), and USD Coin (USDC).

To integrate the crypto-based payment options, Konzum took the help of tech company Electrocoin and its PayCek system. 

The company also ensured that all the payments that will take place will go smoothly with the fixed price of crypto assets, at the time of starting payment procedure by customers. This will help people to use crypto without any huge tension of volatility in the price of the crypto asset and also customers will be able to pay with enough available time, without any quick decision because of volatility. 

Uroš Kalinić – a Management Board of Konzum for Finance and IT member, figured out that Konzum is monitoring the current ongoing trend in the world. And according to him, Konzum believes that crypto is a trend for this situation. 

Read also: Binance CEO planning to expand services in the UK