Croatian supermarket chain Konzum began accepting bitcoin (BTC) and others cryptocurrencies as a means of payment. In spite of the bear In the market we are in, this payment method has become increasingly popular.
In December 2021 Konzum started accepting 9 cryptocurrencies as a means of paymentl. Since then, people can pay for their groceries with, among other things, bitcoin, ethereum (ETH), USD coin (USDC) and tether (USDT). It started with online purchases, but now it is also possible at various self-scan checkouts in physical stores. Additionally, Konzum is working with Croatian crypto payment company Electrocoin to bring this capability to 700 brick-and-mortar stores.
Ines Barbir, from Konzum, say that the implementation was successful and that the supermarket chain is constantly expanding the crypto payment method. Exact figures on growth were not forthcoming, however.
Crypto in Croatia
According to a Konzum representative, Croatia ranks among the top in Europe when it comes to crypto adoption. This would be due to the rise of fintech companies such as the aforementioned Electrocoin. The representative also noted the following:
“Regardless of the bear market, we are pleased with the interest that continues to grow. The general interest in cryptocurrency payments continues to grow steadily, as does the interest in the implementation of cryptocurrency payments in Croatia.”
Incidentally, the uncertainty surrounding crypto payments is also discussed:
“This is mainly due to the uncertainty and mistrust in new technologies, but also due to the state of play regarding the regulation of the crypto industry.”
This uncertainty is also partly due to the Croatian government. Very little is said about crypto regulation. In the past, the National Bank of Croatia has indicated that bitcoin and other cryptocurrencies are not legal tender.
Despite all this, Croatia is one of the most ‘crypto ready’ countries, according to a report from Forex Suggest.
