27 Nov 2020 · 1 min read

Venezuelan Retailing Heavyweight Starts Accepting Bitcoin, Altcoins

Rattan Plaza. Source: A screenshot, Instagram/rattanplaza

Rattan, a popular shopping outlet in Venezuela, has become the latest retailer in the country to announce it will start accepting payments in bitcoin (BTC) and a number of altcoins.

Per a tweet from media outlet Criptolugares that was reposted by crypto exchange Cryptobuyer, the trading platform has struck a deal with Rattan that will initially see the Plaza branch of the Rattan supermarket network, one of the busiest retailers on the island of Margarita, in the state of Nueva Esparta.

The deal will allow Rattan Plaza shoppers to spend bitcoin in store using Cryptobuyer’s Cryptobuyer Pay solution, as well as litecoin (LTC), dash (DASH), ethereum (ETH), binance coin (BNB), dai (DAI), tether (USDT) and Cryptobuyer’s own native ERC-20-based cryptoasset.

The news comes hot on the heels of an announcement last month, also by Cryptobuyer, that it had sealed a deal with the Venezuelan supermarket chain Excelsior Gama. Like the Rattan deal, the Excelsior Gama agreement allows shoppers at the latter to send the same set of eight cryptoassets instead of fiat bolivars.

And the same exchange has also been instrumental in launching crypto pay solutions for the Traki nationwide chain of department stores – where customers can pay in crypto, including the state-operated, oil-backed petro (PTR) token.

Major hotels in Venezuela have also begun to adopt crypto pay (with some in Argentina now set to follow suit), with crypto pay also enabled via point-of-sale (POS) devices at scores of smaller stores throughout the country – as well as gas stations, which were given the green-light to accept crypto pay earlier this year.
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Learn more:
Venezuelan Army Engineers Start Mining Bitcoin
Venezuelan Authorities Clamp Down on Off-The-Books Crypto Pay Vendors
Venezuela Unveils State-run Bitcoin, Litecoin, Dash, and Petro Exchange
Venezuela Expands Scope of its Remittance Platform With Bitcoin & Litecoin