BTC

Bitcoin: in South Africa, BTC payments are on the rise

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The choice of cryptos – The adoption of Bitcoin (BTC) and cryptocurrencies is low-key, but it’s building every day. In Brazil, for example, this translates into the arrival of the stablecoin USDT in 24,000 ATMs (ATM). In South Africa, crypto-assets will take by storm supermarkets.

Bitcoin in all Pick n Pay stores in South Africa

For cryptocurrencies to really integrate into the economy of everyday life, nothing better than to see them accepted as means of payment. And that’s exactly what’s happening in South Africaas the reports especially Reuters.

The group Pick n Pay constitutes one of the largest chains of retail of the South African country. After a first phase as a pilot project in 10 of its stores, Pick n Pay has extended to 29 other establishments payment tests by Bitcoin and other cryptos (so 39 now, in total).

“Cryptocurrencies are increasingly used by people who are underserved by traditional banking systems, or by those who want to pay and exchange money in a cheaper and truly convenient way. Many businesses are responding to this phenomenon by accepting bitcoins. »

Pick n Pay press release

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Electrum and CryptoConvert support this crypto adoption

These tests allow Pick n Pay to offer cryptos as a method of payment in its supermarkets. They were produced through a partnership with Electrum and CryptoConvert. In all, these are so 90 different crypto-assets that can be used.

The experiment seems to be going very well and to be acclaimed by customers. Pick n Pay even announces its intention to deploy this crypto-payment offer in all stores of the chain in the next “coming months”. Between its own stores and its franchisees, this represents more than 1,600 establishments.

“Cryptocurrency payments are still in their infancy in South Africa. But we are already seeing that they are being embraced in sections of our society that previously had no access to traditional financial systems. »

Carel van Wyk, founder of CryptoConvert

And, this arrival of cryptocurrencies in the economic life of South Africans is timely. Indeed, no later than the end of October 2022, a regulatory clarification finally granted official recognition and status to crypto-assets in South Africa.

The certainties of the old financial world are eroding.. but it’s not because of Bitcoin! Shelter your cryptos from the current economic turpitudes by storing them on a Ledger key. Boost for your purchasing power, take advantage of -10% on the Nano S Plus and Nano X models (commercial link).

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