Oasis Supermercados, a supermarket chain set in the Brazilian state of Rio de Janeiro, has started to accept crypto payments recently. You can pay the company with Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC).
Starting this week, the supermarket decided to accept the three cryptos as well as payments with fiat currency, debit and credit cards. According to reports from local media outlets, the company will use Coinwise as a payment processor.
In order to avoid volatility, all payments are processed as soon as they are made. The client pays with crypto but the supermarket receives the money in fiat currency, which is sent in real (BRL) to the market in about three days later.
As expected from most of the places that are already accepting cryptocurrencies as payment, the owners of the supermarket chain are Bitcoin enthusiasts. The owner Douglas Andrade and his brother, the co-manager Thiago Andrade, picked up the idea from a video they had found online and took it to a crypto brokerage firm to see if it was a feasible idea.
The brothers were already Bitcoin investors, having learned how to invest from a former employee some time ago, and they both think that using crypto is very much like using a simple credit card.
According to them, the payment process is actually very simple. People only need to tell which crypto they want to use, they use a QR code and then it’s done.
The annual revenue of the supermarket chain is about $25 million BRL (around $6.45 million USD) and they operate two stores with 90 workers in total, which have been prepared to deal with crypto payments.
More and More Businesses Now Accept Cryptos In Brazil
While cryptocurrencies are not as prominent in Brazil as they are in some other countries like the United States, Japan or South Korea, some establishments are already starting to offer a growing number of services and letting the clients pay using Bitcoin.
A bike shop called Las Magrelas was a pioneer in crypto payments and it accepts payments in cryptos since 2013, way before Bitcoin was popular.
There are many others, though. For instance, Viação Garcia, a Brazilian road transport company, has also started to accept payments in the same three cryptos as Oasis Supermercados. Initially, only Bitcoin was accepted there, but the company decided to expand the offering to other similar tokens.
Other places that now accept crypto payments include Metrô Brasília, the subway system of the country’s capital and Tecnisa, a major construction company that gives the clients a discount of 5% if they make their payments using BTC.
Nobile Plaza Hotel, the ecommerce site Fasttech.com and Imperius Food are also companies that are currently accepting payments.