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Croatian retail giant sees rise in crypto payments despite the bear market

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Payments in cryptocurrencies like Bitcoin (BTC) have been on the rise at Croatia’s largest supermarket chain Konzum this year despite the ongoing bear market.After debuting crypto payments in 2021, ​​Konzum has seen an increasing trend for this type of payment, the firm’s director of business applications Ines Barbir told Cointelegraph.​​Konzum officially started accepting cryptocurrencies as payment for its products in December 2021, allowing customers to pay online with nine cryptocurrencies like BTC and Ether (ETH) as well as Tether (USDT) and USD Coin (USDC) stablecoins.The supermarket chain has since expanded the crypto payment option to several self-checkout cash registers in physical pilot stores.

Konzum is also still working with the local crypto payment firm Electrocoin to bring crypto payments to all 700 physical stores across Croatia.According to Barbir, the rollout of the new payment method has been implemented successfully, and Konzum has actively been working on expanding its crypto payment option.

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