In South Africa, there is more and more enthusiasm for crypto and more particularly for Bitcoin. A survey even reveals that nearly 50% of South Africans are willing to invest in crypto. A boon for Bitcoin which has just consolidated a great collaboration with Pick n Pay. It is one of the largest retail companies in South Africa.
Over 1,000 Pick n Pay stores will accept Bitcoin crypto payments in South Africa
In South Africa, it is almost customary to pay for groceries in crypto (more precisely in bitcoin). Many stores and vendors are listed, such as Pick n Pay. With more than 16% of the grocery market share, this group started Bitcoin Lightning in November 2022. It was a 3-month test phase in 39 stores.
Noting a convincing result, he decided to deploy this new crypto payment system in all of his stores (i.e. 1,628 locations). In other words, South Africans will now be able to pay for consumable goods in bitcoin. To do this, simply download a Bitcoin Lightning and CryptoQR crypto wallet. This is CryptoConvert’s scanner application.
The results obtained confirmed Pick n Pay in its national deployment approach. But not only ! Decision-making has also been made easier by new crypto regulations in South Africa. Indeed, the FSCA currently considers crypto to be a financial product. All cryptos (including bitcoin) will therefore now be subject to financial services laws.
The results of a survey of South African consumers tend to materialize: South Africa could become the next Bitcoin country. However, the country faces a major problem. A large majority of the population does not master the use of crypto. Hence the importance of clear and strict regulations.
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