There was a time when people on the internet were not ready to invest in cryptocurrencies. Although the industry offered full freedom to individuals to keep their information private, yet its decentralized nature raised many concerns.
This was the main reason why were reluctant to adopt the cryptocurrency industry in the first place. However, in the past couple of years, the cryptocurrency industry has really picked a lot of user base and growth. The industry is not only observing adoption by individuals, but even countries are now adopting it in masses.
Some of the most prominent countries adopting cryptocurrencies on a large scale include Russia, China, Japan, and South Korea. These countries are not only adopting the cryptocurrency industry but are also adopting the blockchain by introducing their own CBDC.
These countries have started incorporating crypto-blockchain technology into sectors such as health, sports, esports, banking, and many more.
When it comes to adopting cryptocurrencies, Croatia has also emerged as one where it is not just the government aiming to adopt the crypto-blockchain industry but also individuals and retailers.
According to the latest reports, a gas station company “Tifon” in Croatia has announced that it is now accepting payments in cryptocurrencies also.
At present, Tifon has 46 gas stations all over Croatia and they are ready to accept payments for gas filling through cryptocurrencies. The customers will have the option of paying in different currencies including Ethereum (ETH) and Bitcoin (BTC). In order to make the payments with cryptocurrencies, the customers will be required to use the Paycek payment processor.
It has been confirmed that the Tifon gas stations started accepting payments in cryptocurrencies from the beginning of February 2021. Paycek is a service that has been introduced by the fintech startup Electrocoin that is based in Croatia.
According to the details provided by Paycek through its website, it currently supports cryptocurrencies such as Ripple (XRP), EOS, Stellar (XLM), Ether (ETH), and Bitcoin (BTC).
The Paycek platform is known to work in such a way that it converts the cryptocurrency transactions into fiat right before the completion. Therefore, no matter the kind of cryptocurrency the users choose, once the payment processes, Tifon receives it in Croatian kuna.
While making the announcement, Tifon officials stated that they are fully confident about the services they are providing their customers. They have complete faith in the mechanism of cryptocurrencies and consider it one of the safest payment methods for their customers.
The chief finance officer at Tifon Ana Lokas also talked about the company’s recent crypto-adoption and its significance in Croatian markets. She stated that at present, the cryptocurrency industry is still in its infant phase in Croatia and needs time to mature. Therefore, Tifon has taken the first step of providing cryptocurrencies a footing in the Croatian market so it can grow and develop the way it is meant to be.