One can buy groceries, airtime, bus tickets, and pay municipal bills with bitcoin.
Crypto exchanges VALR and Luno have partnered with CryptoConvert to allow clients to spend their crypto at more than 1 500 Pick n Pay stores across the country.
“When we developed VALR Pay, our vision was to first create free, fast and easy peer-to-peer payments and then to facilitate payment acceptance at merchants. The acceptance of VALR Pay at over 1 500 Pick n Pay stores across South Africa brings this vision to fruition,” says Ehsani. “We’ve built a powerful API to enable other businesses, like CryptoConvert, to leverage our technology to create beautiful products and services with us.
“The declaration of cryptocurrency as a financial product by the Financial Sector Conduct Authority paves the way for greater adoption in South Africa. Pick n Pay is to be applauded for being an early adopter merchant and getting to grips with cryptocurrencies,” says De Wit. ADVERTISEMENT CONTINUE READING BELOW Read:SA to require crypto exchanges licensing by year-endOne of the challenges facing crypto exchanges is encouraging clients to spend rather than sit on their crypto.
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