French Tobacco Companies to Deal With Bitcoins
November 23, 2018 1:01 pm
France based tobacconists have announced that they are going to sell Bitcoins to the public from the next year. France-based radio station Europe 1 announced that the tobacco retailers would offer Bitcoin vouchers in categories of 50, 100 or 250 euros (around $57, $114 or $285) from Jan 1, 2019.
Keplerk, a local crypto startup said that it has partnered with a cash register software provider to facilitate this scheme. The firm will be allowing its customers to convert their vouchers into Bitcoins and store them in their wallets.
The reports said that around 3,000–4,000 tobacco shops would be selling the vouchers and the remaining ones will begin selling later. Keplerk will be charging 7 percent commission on transactions to fund the operation.
Adil Zakhar, Keplerk’s Director for Strategy and Development, said:
“Tobacco shop owners are the best channel as they are trusted by customers, and they are used to sell vouchers such as credit for mobile phones.”
On Wednesday, the French Central Bank published a document which states that the bank has signed no agreement with tobacconists for selling Bitcoins. The central bank also warned that digital currencies are purely speculative and are not currencies. The bank added that those who are interested in investing in cryptocurrencies such as bitcoin and other would be doing so at their own risk.
According to the tobacconist federation’s website, there are more than 25,000 tobacco firms across France. This plan aims to make Bitcoin widely available.
Recently the French government called for ICO and cryptocurrency regulations. The government thinks that the regulation will help to bring investors on board. The announcement also included that the authorities will be issuing certificates to the firms that are within the legal pattern.