The sportswear company Decathlon and beauty store Sephora in France will be accepting Bitcoin (BTC) payments as soon as the next year.
There will also be 28 different retailers that would make Bitcoin payments available at 25,000 sales points in the country. The information was released by Le Figaro on September 24.
Bitcoin Continues Expanding In France
Although Bitcoin’s price fell to $9,500 in the last few hours, cryptocurrency adoption continues to expand around the world.
France is going to be the home of over 25,000 stores that will accept Bitcoin payments for products. The point-of-sale technology provider Global POS, EasyWallet and Easy2Play joined forces in order for this to happen.
Users will have the possibility to pay using Bitcoin while the seller will receive the funds in euros. The funds will be automatically converted in order to avoid price fluctuations.
The conversion from Bitcoin to euros will be taking place through services provided by Deskoin and Savitar. These two companies are currently applying for Digital Asset Service Provider accreditations in France.
The CEO of Global POS, Stéphane Djiane, commented:
“This is an important symbolic step in the evolution of payment methods in France. Nevertheless, more than a symbol, what we bring to 25,000 outlets is the ability to safely enter the world of the Economy 3.0.”
Although there is no specific information about the future addition of other digital assets, the firms could evaluate the impact Bitcoin had on their sales and overall customer experience.
Some of the retailers that will be part of this initiative include Foot Locker, World House, Cultura, Maisons du Monde and many others.
The giant digital asset management company Grayscale informed that there are more than 100,000 organizations around the world accepting Bitcoin. Bitcoin works not only as a store of value but also as a means of payment.
Thus, with these new shops accepting Bitcoin in France, users in the country will have the possibility to spend their digital asset in a large number of locations. This is expected to have a positive impact on Bitcoin’s usage.
In addition to it, earlier this year, French Tabac shops decided to start selling Bitcoin to customers. Crypto enthusiasts can acquire the most popular cryptocurrency through a solution provided by the fintech group Keplerk.
Although there have been many initiatives trying to increase the number of venues accepting Bitcoin, this could eventually become one of the most successful ones.