Filipinos just got a way to spend their crypto holdings. This spring, Argomall has become the first online retailer in Southeast Asia to accept cryptocurrencies for payment.
Entrepreneur magazine wrote recently that according to a survey by FT.com, some 2.9% of Filipinos have adopted Bitcoin, second only to the 3.3% of Indonesians. Overall, Southeast Asia’s cryptocurrency adoption rate is 2.5%.
Argomall was established in November of 2015, and since then has helping customers to shop online for their next smartphone, smartwatch, tablet, laptop, notebook, or accessories at the right price.
With their partnership with Coingate, they can now accept over 50 cryptocurrencies including Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Sirin Labs, Telcoin, Nano, TRON, and others.
Argomall’s Chief Karel Holub said, “[Our] solutions now include the opportunity to pay in Bitcoin and around 50 more Altcoins because it is part of our mission and vision at Argomall to make the discovery, selection and purchase of smartphones—or any other related gadget—in the Philippines easy, while providing the best service on the Internet to our consumers.”
CoinGate Marketing Manager Veronika Mishura said this partnership with Argomall is a large step for cryptocurrency adoption, adding that this is CoinGate’s first such integration in Southeast Asia. Moreover, Mishura said using cryptocurrencies as payment for online purchases present a cheaper and faster alternative to traditional payment methods.
“Crypto-adoption among retailers is definitely what we need to strive for,” Mishura said. “When more stores accept digital currencies, more users are prompted to buy all types of goods with cryptocurrency. This is exactly what crypto-industry needs for recognition that would lead to it becoming a standard payment method along with credit cards.”
CoinGate is thrilled to have Argomall on board, she added. She hopes Philippine crypto enthusiasts won’t stay aside, and will start using this new payment method.
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