Cryptocurrency rarely exists in physical retail stores but the French Prudential Supervision and Resolution Authority recently decided to sell cryptocurrency in French tobacco shops. These shops typically sell lottery tickets and cigarettes but in 2019, many of these shops will also add various cryptocurrencies to their wares. This new initiative is being done in partnership with the French Fintech start-up Keplerk.
This is a first for the cryptocurrency industry as the online-based currency can now be bought in convenient and accessible locations. Keplerk will be outfitting various French tobacco shops with cryptocurrency cash register software and will also outfit them with the necessary infrastructure. The shops will also sell vouchers for Bitcoin, redeemable through Keplerk's crypto wallet. The project is expected to start in 3,000 locations in January and will eventually roll out to shops across France.
Nationwide Cryptocurrency Sales Initiatives
French Tobacco Shops Will Soon Sell Cryptocurrency
Trend Themes
1. Cryptocurrency Retail Expansion - The initiative to sell cryptocurrency in French tobacco shops could lead to the expansion of cryptocurrency sales in physical retail stores globally.
2. Fintech and Retail Partnership - The partnership between French Fintech start-up Keplerk and French tobacco shops illustrates the potential for partnerships between Fintech and retail industries to drive innovation in both sectors.
3. Offline to Online Currency Conversion - The initiative to sell cryptocurrency in physical retail stores demonstrates the growing need for offline to online currency conversion, creating potential for new disruptive technologies in the currency exchange industry.
Industry Implications
1. Retail Industry - The initiative to sell cryptocurrency in French tobacco shops could transform the retail industry, creating new opportunities for revenue streams and customer engagement.
2. Fintech Industry - The partnership between Keplerk and French tobacco shops demonstrates the potential for Fintech companies to partner with other industries for growth and innovation.
3. Currency Exchange Industry - The initiative to sell cryptocurrency in physical retail stores could disrupt the traditional currency exchange industry, creating opportunities for new technologies and processes for offline to online currency conversion.