On the one hand, the traditional financial institutes are waking up to the rising popularity of cryptocurrencies. On the other hand, there are some other businesses and industries that are trying to adopt cryptocurrencies to promote their services. The same is the case with Walmart, one of the largest and most popular chains of retail stores in the United States.
The reporters at CBS news wrote the Walmart management to confirm the news recently. The spokesperson of Walmart responded by email, confirming the news. Walmart has partnered with Coinstar to set up kiosks at different branches to make the service possible.
The average buyer who comes to Walmart is part of the lower to the middle class. The retail giant has more than 4,600 franchises across different states of America. This approach of allowing people to purchase Bitcoin from as many people as possible is going to further add to the education and introduction of the flagship cryptocurrency.
The Walmart spokesperson also told the media that, thus far, 200 Bitcoin kiosks have been set up in various franchises. Although, the particular names of these franchises are not clear. Coinstar is a service that allows shoppers to convert loose change into paperback. Another third-party collaborator on this project is the digital exchange CoinMe that is making digital currency distribution possible for Coinstar.
Many Businesses have Added Crypto Buying Option
PayPal is one of the largest digital payment platforms in the world. Owing to the rising popularity and demand for cryptocurrencies, the fintech giant started cryptocurrency services last year. The users can now hold, sell, and exchange selected digital tokens directly from their PayPal accounts.
However, some entities are not happy with the increasing popularity of cryptocurrencies in the region. The government of China has put an embargo on all types of cryptocurrency trading, mining, and transactions in the current year. It is not a secret that crypto markets are subject to a high level of volatility and speculation. Walmart officials had to deal with a massive hoax recently when the rumours spread that the retailer had decided to accept Litecoin as payment at the checkout posts.