Konzum, a leading retailer in Croatia, now accepts cryptocurrency payments.
Electrocoin, a Croatian crypto brokerage and payment processing firm, has completed one of the country’s largest crypto deals through a cooperation with Konzum, the country’s largest local grocery chain.
The company has stated that purchases would be available in physical stores as well.
According to Uros Kalinic, a board member of the retailer, the company opted to target younger customers who had swiftly embraced the crypto-system.
“This is definitely something new for both Konzum and the Croatian retail sector,” Kalinic went on to say that the corporation had already incorporated Google Pay and Apple Pay, and that it was open to new technological advancements.
These investments are directly in line with the process of digital transformation of the Fortenova Group (Konzum’s parent company).
According to Electrocoin, nine cryptocurrencies – Bitcoin, Ether, Bitcoin Cash, EOS, DAI, Ripple, Stellar Lumens, Tether, and USDC – will be accepted at Konzum’s online shop.
They will be authorized as a payment method for over 12,000 goods.
Although cryptocurrencies fall within its anti-money laundering legislation, Croatia’s Financial Stability Council has stated that regulators are not responsible for regulating virtual currency transactions.