Major retailers have begun accepting cryptocurrency payments in the form of bitcoin, ethereum, bitcoin cash, and the Gemini dollar.
One of the largest, Whole Foods Market, owned by the e-commerce behemoth Amazon, is now accepting bitcoin as a payment method.
This development is a result of a deal between Flexa and Gemini, the latter is the crypto exchange from Tyler and Cameron Winklevoss, well-known bitcoin billionaires.
The news broke on May 13. Gemini wrote in a mundane tone of voice on Twitter, “Partnering with @FlexaHQ to power the future of payments using #crypto easily. Now accepted at major retailers. Download SPEDN in the Apple store!”
Shoppers in the US and other countries can now buy groceries at Whole Foods via Spendn app.
Spendn is an app developed by a US-based payments startup Flexa. It enables merchants and buyers to take and make cryptocurrency payments, correspondingly. Currencies include bitcoin, ether, Bitcoin Cash, and Gemini Dollar (GUSD).
To purchase groceries in Whole Foods, one only needs to install the Spedn app, then upload their asset of choice from any cryptocurrency wallet. After which they can make purchases with cryptocurrencies.
Behind the scenes, Gemini takes responsibility for the crypto funds, while Spedn takes care of the payment itself by generating a one-time QR code on the phone’s screen, which is scanned by the participating store’s existing scanner. The app then debits the amount charged from the customer’s account.
Tyler and Cameron Winklevoss believe now that the news have broken, there’s nothing stopping wide-scale adoption of bitcoin. Tyler told Fortune in an interview, “The idea of living on crypto is now a reality. You can now do it.”
Helping the adoption is the ease of transition to supporting crypto. The technology is nothing new, it’s s based on existing payments infrastructure that the merchant is already using to accept digital payments such as Apple Pay. All the retailer has to do is tweak their system to identify payments from the Spedn app. As for the customers, there’s nothing new for them, they are already familiar with the tap-and-pay app behavior.
Obviously, crypto enthusiasts are rejoicing because if Whole Foods can accept bitcoin and other cryptocurrencies, theoretically Amazon’s entire marketplace can soon start doing the same, via Flexa or other similar startup-enabler.
Many believe May 13 is the date when cryptocurrency mainstream adoption has officially begun to unroll.
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