Sign up to save your podcasts
Or
Share Elektra, a Mexican retail establishment, will accept bitcoin as payment for services
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Elektra, a Mexican retail establishment, will accept bitcoin as payment for services
According to a recent Reuters report, Mexican retailer Elektra will begin accepting the leading cryptocurrency bitcoin (BTC) as payment for its services, making it the first in the country to do so.
Ricardo Salinas Pliego, a Mexican billionaire and founder of Grupo Salinas, which owns Elektra, confirmed the news via a tweet today, stating that the retail store will "offer a 20% discount on bitcoin purchases."
"It is true that the rumours are true. Elektra is Mexico's first retail store to accept bitcoin payments... I'm truly sorry for defeating the competition once more," he added.
As part of the development, the firm has selected BitPay as its BTC payment processor.
Salinas is a Bitcoin enthusiast, as he stated in a tweet six months ago that he was looking for ways to convince Banco Azteca, a banking institution that is a subsidiary of Elektra, to accept Bitcoin as a payment method.
"Certainly, I recommend the use of #Bitcoin, and my bank and I are working to become the first bank in Mexico to accept it; if you require additional information or details, follow me on my Twitter account," he tweeted.
Mexican Regulators Do Not View Bitcoin as a Form of Payment
At the moment, there are no official prohibitions or restrictions on the use of cryptocurrency in Mexico.
However, the country's government and regulatory authorities have criticised and taken a more stringent stance on regulating the emerging asset class.
In September, Mexico's Central Bank Governor Alejandro Daz de León expressed disapproval of BTC, stating that he views it as a product rather than a medium of exchange.
Diaz stated that anyone who accepts BTC as payment for goods is engaging in barter trade – the exchange of goods for goods.
Additionally, he stated that the only thing that should be considered money are fiats issued by a country's central bank.
Meanwhile, despite widespread criticism, the leading cryptocurrency continues to be used as a medium of exchange in a variety of industries.
For example, just last month, AMC, the world's largest movie theatre chain, announced that it would begin accepting Bitcoin and other cryptocurrencies as online payment options.
Support us!
View all episodes
By Crypto PiratesAccording to a recent Reuters report, Mexican retailer Elektra will begin accepting the leading cryptocurrency bitcoin (BTC) as payment for its services, making it the first in the country to do so.
Ricardo Salinas Pliego, a Mexican billionaire and founder of Grupo Salinas, which owns Elektra, confirmed the news via a tweet today, stating that the retail store will "offer a 20% discount on bitcoin purchases."
"It is true that the rumours are true. Elektra is Mexico's first retail store to accept bitcoin payments... I'm truly sorry for defeating the competition once more," he added.
As part of the development, the firm has selected BitPay as its BTC payment processor.
Salinas is a Bitcoin enthusiast, as he stated in a tweet six months ago that he was looking for ways to convince Banco Azteca, a banking institution that is a subsidiary of Elektra, to accept Bitcoin as a payment method.
"Certainly, I recommend the use of #Bitcoin, and my bank and I are working to become the first bank in Mexico to accept it; if you require additional information or details, follow me on my Twitter account," he tweeted.
Mexican Regulators Do Not View Bitcoin as a Form of Payment
At the moment, there are no official prohibitions or restrictions on the use of cryptocurrency in Mexico.
However, the country's government and regulatory authorities have criticised and taken a more stringent stance on regulating the emerging asset class.
In September, Mexico's Central Bank Governor Alejandro Daz de León expressed disapproval of BTC, stating that he views it as a product rather than a medium of exchange.
Diaz stated that anyone who accepts BTC as payment for goods is engaging in barter trade – the exchange of goods for goods.
Additionally, he stated that the only thing that should be considered money are fiats issued by a country's central bank.
Meanwhile, despite widespread criticism, the leading cryptocurrency continues to be used as a medium of exchange in a variety of industries.
For example, just last month, AMC, the world's largest movie theatre chain, announced that it would begin accepting Bitcoin and other cryptocurrencies as online payment options.
Support us!