June 18, 2024

Chain stores and newsstands in Lithuania started selling bitcoins

Lithuanian convenience store chain Narvesen and newsstand chain Lithuanian Press announced the launch ofretail sales of bitcoins, and buyers do not need to show identification.


Local publication Delfi reports that stores andkiosks offer customers the opportunity to purchase special coupons, which can then be exchanged for bitcoins on a special website. At the same time, thanks to the popularity of stores and kiosks, cryptocurrencies can attract new audiences.

“At the moment we have a network of approximately 60stores and we are constantly looking for opportunities to expand our products and services. Recently, we offered our customers the opportunity to withdraw cash directly at the cash desks of Narvesen stores. Now we offer coupons for bitcoins, and they can be paid in cash or by card. Bitcoin coupons should appeal to a younger audience, ”said Narvesen CEO Vigintas Bartaševičius.

To convert a coupon to bitcoins, you will needonly email address and cryptocurrency wallet address. According to Raimundas Asauskas, CEO of Rebiton, which handles coupons, the lack of user verification is not a problem from the point of view of regulators.

“Although we have greatly simplified the processacquisition of bitcoins, we fully comply with the requirements for combating money laundering, preventing fraud and other regulatory rules. We evaluate and verify email addresses and IP addresses using partner solutions, which are also used by major brands like Disney, IBM, American Airlines and Santander, ”said Asauskas.

Interestingly, this summer it was reported that the Lithuanian government plans to significantly tighten oversight of cryptocurrency companies.