Bitcoin to be sold via Tobacco shops in France

The most recent Crypto Crash which saw cryptocurrencies like Bitcoin fall below the $5000 mark for the first time since October 2017 has left most crypto enthusiasts frustrated and in a worrisome state.

But amidst all the negativity, signs of hope are still around the corner. Other than popular names assuring everyone that the fall isn’t as bad as it looks, some countries are still looking for future adoption of cryptocurrencies. In the recent news, Europe1 has announced that tobacco shops in France will begin selling Bitcoin soon.

The French Prudential Supervision and Resolution Authority (ACPR) has officially approved the Federation of tobacco shops to begin selling Bitcoin from January 2019.

Initially, around 3000 to 4000 shops will be provided with the software for the selling of bitcoins. The coins can be bought in the following values: 50, 100, or 250 euros in the form of coupons.

According to Antenna 1, an agreement was signed by Bimedia, which provides terminals for collection at tobacco shops, and KeplerK, which offers cryptocurrencies.

Tobacco dealers (or tobacconists) will be able to market these coupons, which can be converted to bitcoin on the KeplerK website, which has over 27000 operators and the highest number of point of sales in the world.

The President of the Confederation of Tobacco shops, Phillipe Coy, said that this authorization will modernize the tobacconist profession. He also said:

“It brings us closer to modern times of consumption, and use.”

The Confederation of Tobacco shops (or, Fédération des Buralistes), comprises more than 25,000 points of sales in the French territory. These shops are open 13 hours a day, seven days a week.

What do you think?

1.8k Points
Upvote Downvote

Written by MoneyNet

MoneyNet is the team behind the research and fact-checking of our net worth listings. We strive to provide the most up-to-date listings of the wealthiest people in the world from a wide range of industries and professions. If you have a tip, or think that we have something factually incorrect, then please let us know. Aside from that, enjoy learning everything there is to know about the rich and famous.

Leave a Reply

Your email address will not be published.

Bitfury onboards Ex-SEC Commissioner and Investment Banking Veteran to Board of Directors

Bank of America Wins Patent, can store client’s cryptocurrency in Enterprise Holdings