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Brazil: Major Supermarket Chain Starts Accepting Crypto Payments

A major Brazilian supermarket is in the daily cryptocurrency news. Oasis Supermercados is the name of the chain located in Rio de Janeiro which has recently started accepting cryptocurrency payments after training its employees on how to do it.

As the local news outlet Portal do Bitcoin published, the chain’s clients in Rio de Janeiro will be able to pay for their things using Bitcoin, Bitcoin Cash and Litecoin as one of the firm’s managers named Douglas Andrade noted.

Andrade spoke to the local publication and noted that his brother Thiago was the one who came up with accepting cryptocurrency payments after seeing a video explaining how to do it. The video triggered the interest in the local population. He was quoted as saying the following:

“It’s really easy. It’s like a payment by credit card. The client says which cryptocurrency he wants to pay, the operator types in reais and the system already converts to that crypto. Then just scan the QR code and you’re done.”

The chain will be also accepting cryptocurrencies via CoinWISE which is a firm that turns the cryptocurrencies they receive into reais and sends them over three days after the payments were made.

The outlet also noted that since the system was implemented, no cryptocurrency payment has been received. However, Andrade claims that the news has spread and some have suggested that it should start accepting other cryptocurrencies including NANO.

Over the past year, Brazil’s Department of Federal Revenue (RFB) announced it was looking to monitor the activities of businesses dealing with cryptocurrency in what appears as a way to prevent tax evasion and money laundering.