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A Small Brazilian Supermarket Chain Now Accepts Crypto

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Oásis Supermercados is a Brazilian supermarket chain located in Rio de Janeiro. The company as a whole has no more than 80 employees, 20 of them being cashiers. But despite the chains smaller size, it has decided to take a pioneering leap and begin expecting cryptocurrency as payment.

Reported by the local news source of Portal do Bitcoin, one of the chains managers Douglas Andrade, states that the chain now accepts payments for purchases with Bitcoin, Litecoin and Bitcoin Cash with plans to expand into other cryptos in the future.

Why?

Andrade accredits his brother Thiago with coming up with the idea to accept crypto. Andrade states that his brother simply watched a video online on how to do it and after seeing how easy it was, decided to do more research into the process. Thiago reportedly called a local crypto exchange for more information on the topic and how he would train his employees how to do it.

“It’s really easy. It’s like a payment by credit card. The client says which cryptocurrency he wants to pay, the operator types in reais and the system already converts to that crypto. Then just scan the QR code and you’re done.”

The chain will be accepting payments through CoinWise, a service that converts the crypto in their nations fiat currency over the time of three days. Andrade states that none of the markets have yet accepted a payment with cryptocurrency yet because of its new instillation, but that they are proud to be offering the service.

Oásis Supermercados reportedly brings in over $6.5 million each year. Andrade states that all of their employees have been trained on how to accept cryptocurrency payments. They are hoping that after the current bear market subsides that interest in crypto payments will rise.

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