The usage and adoption of cryptocurrencies in France are set to gain a small amount of boost, as France’s tobacco federation, Fédération des Buralistes recently acquired permission of selling BTC.
French cryptocurrency platform Keplerk has partnered with the tobacco shops to offer bitcoins to customers starting from next year.
Keplerk is having more than 27,000 operators and claims to be the number one cryptocurrency network in points of sale. The firm has now arrived at an agreement with over 10,000 points of sale, including the tobacco shops, that will allow selling cryptocurrencies via Keplerk vouchers.
France has over 24,000 licensed tobacconists, also selling lottery tickets, cellphones credits, and music and video streaming services.
However, for now, 4,000 small shops will start selling Bitcoin vouchers, which customers can exchange for cryptocurrencies on Keplerk’s platform, while they open their wallet. The Bitcoins(BTC) will be available in denominations of 50, 100 and 250; the service will be available to remaining outlets later on.
These Keplerk vouchers will create a new source of revenue for tobacconists. However, the cryptocurrency platform will charge a seven percent commission of fee on every purchase.
Director for Strategy & Development at Keplerk, Adil Zakhar said that these tobacconists would be first brick and mortar shops to start selling Bitcoin anywhere in the world.
He also commented:
“Tobacco shop owners are the best channel as customers trust them and they are used to sell vouchers such as credit for mobile phones.”
Zakhar further revealed that they had been working to secure the regulatory permission and corporate partnerships for more than a year.
The Central Bank of France issued a statement saying, French authorities will not be administering the fiat-to-cryptocurrency deals made between Keplerk and retail consumers, as they are not protected under regulations.
A statement that was released on Wednesday by Banque de France said:
“Those are purely speculative assets and not currencies. Those who invest in bitcoin or other crypto-assets do it at their own risk.”
In spite of such rigid regularities, cryptocurrency usages seem to grow in France.
The collaboration between Keplerk and the tobacco shops will have them interfering as mediators in the purchase of Bitcoin vouchers. The Central Bank of France clarified that it holds no particular arrangement with neither Blockchain platforms nor with the tobacconists.
According to Europe 1, French Prudential Supervision and Resolution Authority (ACPR) was accepted not because of positive regularities to crypto, but they believe that the growth of bitcoin and other alternative currencies is indeed not avoidable.