You can now buy groceries with crypto in Croatia
Today (1st of December), Croatia’s largest food retailer “Konzum” announced that it would be accepting cryptocurrencies in its online shops. They will be one of the first, if not the first, retailer of this scale to accept cryptocurrencies as a payment method in Croatia.
Konzum hopes to offer crypto payments for brick and mortar shops in the future, but currently, they’re rolling out with online purchases only.
They will be accepting nine cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS, DAI, Ripple (XRP), Stellar Lumen (XLM), Tether (USDT), and USD Coin (USDC).
What is Konzum?
Konzum is Croatia’s largest supermarket chain, with somewhere around 700 stores currently operating in Croatia. The stores also appear in Bosnia and Herzegovina, and Serbia. Allegedly they serve roughly 650,000 customers each day.
Konzum can be seen as the Walmart of Croatia regarding the brand’s significance and widespread. When comparing them to Walmart, you start to see similarities in their online store, not just brick and mortar. They might not have as big of an item selection, but they are also positioned in a less developed country.
What does this mean for crypto?
Hopefully, Konzum’s bravery will pay off, and more people will become Konzum’s customers. We’ve seen times where businesses that are accepting crypto end up attracting new customers and sales. This possibility of new customers could be the reason behind their acceptance of crypto, or rather, it could be their belief in blockchain technology.
Overall this is an excellent step towards a world that’s more integrated with crypto and blockchain technology. While many countries are hesitant to officially accept crypto, hopefully, we see the adoption by businesses sway the world’s governments towards acceptance of crypto.
Meanwhile, in El Salvador, we’ve seen forced adoption through government intervention where all businesses must accept Bitcoin as a payment method. Voluntary adoption should be encouraged.
If you’re new to crypto and want to start investing, we have a guide on how to buy crypto.