Major Brazilian Supermarket Chain Oásis Starts Accepting Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC) as Payment

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.

Blockmanity’s Take

Brazil is seen to be adopting cryptocurrencies in mainstream businesses. One such example was Brazilian GBS Group’s two public transportation companies Brasil Sul and Viação Garcia accepting Bitcoin, Bitcoin Cash and Litecoin.

Even the subway system of Rio de Janeiro, the Metrô Brasília, accepts Bitcoin (BTC). Technisa which is a construction company in Brazil has encouraged the use of BTC by offering a 5% discount if payments are made in BTC.

It’s not only Cryptocurrencies but even Blockchain which is seen to be making an impact for supermarkets. IBM has signed European supermarket giant Carrefour in the IBM Food Trust to help track their supply chain.

So don’t be surprised, the next time your supermarket cashier asks you if you want to pay in cash, credit card or Cryptos!

Also Read:

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.