With the cryptocurrency about to be accepted by 30 popular brands and thousands of stores in the country, France is leading the way in Bitcoin’s mainstream use as a currency.
Starting from next year, prominent French brands, including Sephora, Foot Locker, Intersport, Decathlon, Boulanger, Maison du Monde, Cultura, Conforama, and Norauto, will start accepting BTC.
This payment solution is going to be implemented by East2Play, the owner of the EasyWallet application, in partnership with Global POS, a Montpellier-based company.
According to a press release published by the French media outlet Le Figaro, “The usual operation will not be impacted since the exchange platforms will be in charge of the conversion of cryptocurrencies into euro.”
Approximately 3 to 6 percent of the French population own cryptocurrencies, according to a Kantar TNS 2018 survey. Retail stores will be able to convert cryptocurrency payments automatically to avoid price fluctuations.
Stephane Djiane, CEO of Global POS, commented, “Initially, the service we offer will only allow the use of Bitcoins, but our goal is to open our solution to other cryptocurrencies in the future.”
While the Ethereum logo can be found on the EasyWallet website, it seems only Bitcoin transactions will be allowed at the moment.
It appears the recently passed French law known as the Pact law, which is considered crypto-friendly by many, has made French businesses more comfortable accepting payments in Bitcoin.
“We are happy to be able to make this ecosystem more concrete for consumers and enter the crypto-economy in a legal framework,” said Gregory Hervein, cofounder of the French ‘Moustaches’ brand Whiskers.
Given the large number of participating stores (25,000), it seems Bitcoin is becoming more and more popular in France, with Ethereum and other cryptocurrencies likely to follow suit sometime soon.