The leading supermarket in the United States, Kroger Co., has announced that it will start accepting Bitcoin Cash for payment in all its stores.
According to a statement by the U.S. largest grocery retailer, the entire Kroger Family of Stores, including Baker’s, City Market, Dillons, Fred Meyer, QFC, and other leading retailers, will accept Bitcoin Cash for all in-store and online purchases starting December 1, 2021.
The Chairman and CEO of Kroger Co., Rodney McMullen, said the integration of Bitcoin Cash into its payment system is in response to the increase in cashless payment.
“Throughout the pandemic, cashless payments have been thriving, and we see cryptocurrency as a natural progression of the trend to deal less with physical money. Integrating Bitcoin Cash into our payment platforms lets us do just that—now and in the years to come,” he said.
In the last 24 hours, bitcoin has been down 0.43%, with a current price of $61,566.72 as at the time of writing this. Within 24 hours, bitcoin dropped to $60,775.27 low and $62,613.40 high. The trading volume of bitcoin in the last 24 hours is $1.03B. The current market capitalization of bitcoin is $1.16T. Currently, $18.86M bitcoins is in circulation.
Stats and Image from Coin Desk
To make payment in Kroger’s stores, shoppers will have to scan a QR code provided at the point of payment. Then, they would be automatically charged the amount at the current exchange rate in Bitcoin Cash.
Kroger plans to convert its Bitcoin Cash to stable currencies. However, it is open to keeping a percentage of it on its balance sheet.