Ukrainian tech retail giants start accepting Bitcoin

Techno Їzhak and Stylus, two of Ukraine’s largest tech-based retailers, have now started accepting Bitcoin as a form of payment.

According to a report by Bitcoin Magazine, citing local news outlet Obozrevatel, the two tech giants will allow customers to pay in $BTC for goods and services. Reports claim that the company will use Whitepay payment providers to serve as the company’s facilitator between customers and merchants. Whitepay operates as a subsidiary of WhiteBIT, a Europe-based crypto exchange.

The report claims that customers will be able to use Bitcoin for payment online and in physical stores, which total more than 100 outlets across the two tech companies. Customers paying in person will be able to use Whitepay’s personalized point-of-sale system, which provides merchants with a QR code to document the transaction. The QR code will contain information about the current exchange rate, in addition to the time required for the transaction on the network.

According to the report, Ukrainian interest in bitcoin grew throughout the Russian invasion. Earlier this year, Volodymyr Zelensky, President of Ukraine, signed a “virtual currency” bill, which provides a legal framework for Bitcoin to work with the country’s economy.

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