23 Dec Major Brazilian Supermarket Chain Oásis Starts Accepting Bitcoin (BTC), Bitcoin Cash (BC…
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A Brazilian supermarket chain called Oásis Supermercados has started accepting cryptocurrency payments. It will allow shoppers to pay in Bitcoin, Bitcoin Cash, and Litecoin according to one of the managers named Douglas Andrade.
The supermarket is based in the capital of Rio de Janeiro and is successful in terms of profits, with $6.5 million in annual turnover and 90 employees. The 20 cashiers have already undergone training to accept cryptocurrency payments.
Andrade specified the ease of crypto payments, comparing it to a credit card but with the scanning of a QR code.
The Brazilian supermarket has tied up with CoinWISE to help them in convert cryptocurrencies into reais which are sent every three days after the payments.
Brazil as of now is keeping their eyes open on cryptocurrency deals in the country, due to tax evasions and money laundering. However, this still has not stopped the supermarket from bringing cryptocurrency into mainstream payments for grocery shopping.