Croatian major retailer Konzum accepts crypto payments

Croatian crypto brokerage and payment processing company Electrocoin has finalised one of the biggest crypto deals in the country through a partnership with the country’s largest local supermarket chain – Konzum.

The company has confirmed purchases will also be enabled within physical stores as well.

Uros Kalinic – a Konzum board member – said the firm decided to turn to younger shoppers who quickly have embraced the crypto-system.

“This is definitely something new for both Konzum and the Croatian retail sector,” Kalinic said, adding the company had already implemented Google Pay and Apple Pay options, and was open to new technological innovations.

“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 will be accepted in Konzum’s online shop – Bitcoin, Ether, Bitcoin Cash, EOS, DAI, Ripple, Stellar Lumens, Tether and USDC.

They will be accepted as a form of payment for more than 12,000 products.

Croatia’s Financial Stability Council recently said regulators were not responsible for overseeing virtual currency transactions, although cryptocurrencies fall under its anti-money laundering regulations.