French tobacconists have started selling Bitcoin

10 Jan, 2019 | Updated: 10 Jan, 2019
by Will Heasman
Adoption
French tobacconists have started selling Bitcoin

In an unprecedented show of adoption, more than 6500 tobacconist shops around France were given the green light to start selling Bitcoin last year.

Thanks to backing from fintech group, Kerplerk, Paris now has six of these so-called "tabacs", selling the digital gold.

Up to 6500 tobacconists are also expected to jump in on the Bitcoin (BTC) bandwagon by February of this year.

Kerplunks co-founder, Adil Zakhar spoke to Reuters about the venture and how it's encouraging a wider demographic of cryptocurrency holders.

“Some people find it complicated to get bitcoins on-line. They trust their local tobacco shop owner more than they would trust some remote anonymous website,” he said. 

 

The BTC is in the form of vouchers, which are reddemable on Kerplunk's website via their BTC wallet.

This new venture for tobacconists isn’t simply a leap into the future, but rather an attempt to stay relevant as their profits start to maginlized thanks to a reduction in tobacco sales. This has caused many of these cultural institutions to start selling prepaid credit card and initiate money transfer services in order to diversify.

Regardless of the agenda this is a huge step forward for the adoption of BTC and the wider cryptocurrency ecosystem, and could potentially be the push French regulators need in order to provide an appropriate regulatory framework for cryptocurrencies.

Read more: French tobacco shops will sell Bitcoin in 2019The Gilet Jaunes: Protesters run on the banks could collapse French banking system

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Read more about:Bitcoin (BTC)France

Poll

Will this news help with mass adoption of Bitcoin in France?

(25 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage