For many people, Bitcoin and cryptomoney remain something very (too?) virtual. Indeed, compared to cash, Bitcoin offers fewer possibilities for the purchase of everyday goods. However, with the rise of cryptos, this situation is about to change. For example, we recently learned that in Croatia it is now possible to pay for a full tank of petrol in cryptos. Do you still think that cryptography is too virtual?!
Tifon petrol stations are getting into cryptomonnages in Croatia
At the beginning of February 2021, Tifon formalized a partnership with PayCek, a payment platform owned by Electrocoin. This partnership enables Tifon, owner of petrol stations, to open a new crypto service. Concretely, Tifon has announced that 46 petrol stations in Croatia will accept payments in cryptography! Payments can be made in Bitcoin, Ethereum, Stellar Lumen, Ripple or EOS.
In addition to putting the spotlight on cryptos, this operation will also help to boost tourism, according to Tifon’s CEO. Indeed, this new service represents a tremendous publicity coup for the country. Moreover, Croatia is surrounded by other Balkan countries that are very familiar with cryptomoney.
Concretely, to pay your petrol in cryptos, you will have to go through the PayCek platform. Beforehand, you will have to deposit cryptos funds on PayCek. Then, at the time of the transaction, these funds will be converted into the Croatian national currency, the kuna. The equivalent amount in kuna will then be transferred to Tifon. The operation is therefore simple and safe for users.
The development of cryptomoney in Croatia
Admittedly, the number of stations concerned by this crypto service is still very modest. However, it is an important first step in a country where cryptos are « in their infancy » according to Ana Lokas, CFO at Tifon. In addition, this new service shows the practicality of cryptos. Indeed, too many people still consider cryptos as an asset dedicated to investment and speculation.
« Bitcoin, when it was created ten years ago, was designed to be used for payment. […] People mainly talk about crypto-currencies in terms of investment, but on the other hand, partnerships like this one with Tifon, and many more to come in the coming months, show in Croatia that crypto-currencies are slowly returning to their original idea – to be used for payment transactions. »
Ana Lokas, Chief Financial Officer at Tifon
This new service is reminiscent of the one launched by the Croatian postal service less than two years ago. Here again, Electrocoin was at the origin of the crypto service through a partnership with the post office. This service allowed the inhabitants to convert their cryptos into cash in a post office. This service was only open in the town of Zadar.