Croatia’s largest food retailer Konzum accepts crypto in online stores

The largest food producer and retailer in the Western Balkans region – Konzum – has become the first retail chain in Croatia where customers can pay with digital assets. Currently, these transactions are only available in the online store, but the company plans to introduce the service to its supermarkets in the near future.

Additionally, North America’s leading tech-focused online retailer – Newegg – has announced that it will accept Shiba Inu (SHIB) as a payment method on its platform during the Christmas holidays. Nothing – a London-based consumer tech company – will also allow cryptocurrency settlements for its latest product.

Crypto invades the Balkan Peninsula

Konzum – Croatia’s largest supermarket chain with more than 10,000 employees – has revealed that it will enter the cryptocurrency industry by accepting multiple digital assets as a form of payment. These include Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Dai (DAI), EOS (EOS), Tether (USDT) and USD Coin (USDC) .

To enable such payments, Konzum has cooperated with national fintech company Electrocoin and its PayCek system, known as Croatia’s premier cryptocurrency payment processor. Considering the volatility of most digital tokens, these will guarantee the buyer a fixed exchange rate at the start of the trade and allow sufficient time for a successful execution.

Uroš Kalinić – Konzum’s board member for finance and IT – noted that Konzum constantly monitors global trends, hinting that the cryptocurrency industry is one of them.

“As the largest chain of retail stores in Croatia, which over its almost 65 years of history is a continued leader in the domestic market in terms of business results and technological achievements, we are proud of to be leaders in another field that is developing rapidly and dictating the future, ”he summed up.

Konzum is not only the main supermarket chain in Croatia, but also the largest in the Western Balkan region. Besides its homeland, it extends to two other countries: Bosnia and Herzegovina and Serbia. The retail giant serves more than 650,000 customers every day in its more than 700 stores, as the cryptocurrency option will be available in some of them over the coming months.

Newegg and nothing follow the trend

Newegg is another large e-commerce company that recently passed additional digital asset regulations. The California-based company, which accepted bitcoin as a payment method in 2014, has now added the popular Shiba Inu coin (SHIB) to its list of supported digital assets. Interestingly, this made the news official by posting it on The Reef, North America’s largest DOOH billboard located in downtown Los Angeles.

Shiba Inu Billboard, source: newegg.com

Earlier this year, Newegg was one of the first companies in the world to accept SHIB’s biggest rival – Dogecoin (DOGE). Later he also added Litecoin (LTC).

Andrew Choi – director of brand marketing for the company – admitted that customers are very interested in cryptocurrencies. Giving them the option to use bitcoin and alternative coins as a payment method offers “greater flexibility”.

Thereafter, Nothing – a tech company founded by Carl Pei (co-founder of OnePlus) – jumped on the cryptocurrency train by accepting digital asset payments for its Nothing ear (1) wireless headphones in black edition. These coins are Bitcoin (BTC), Ether (ETH), USD Coin (USDC), and Dogecoin (DOGE).

The payment option is available in Nothing’s online stores in the following countries: UK, US, Canada, Belgium, France, Germany, Greece, Italy and Japan.

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