Tobacco Retailers in France to Sell Bitcoin from January

Good news for bitcoin enthusiasts in France, as the cryptocurrency would now be sold in Tobacco stores across the country from 2019.

According to Europe 1, a France-based radio station, tobacco retailers will be offering bitcoin vouchers in denominations of 50, 100 or 250 euros (around $57, $114 or $285) from Jan. 1, next year.

In a bid to ensure the scheme is a success, Crypto startup Keplerk signed a deal with a cash register software provider. With this new feat, Keplerk, intends to allow customers convert their vouchers into bitcoin and store it in wallets on its platform.

The reports adds that, about 3,000–4,000 tobacco shops will be selling the vouchers during the initial stage, while shops will most likely be added later.

“Tobacco shop owners are the best channel as they are trusted by customers and they are used to sell vouchers such as credit for mobile phones,” Adil Zakhar, Keplerk’s director for strategy and development, was quoted as saying by Reuters.

He added that, Keplerk will charge 7 percent commission on transactions to fund the operation.

However, in a statement released on Wednesday, the French central bank denied entering into an agreement with tobacconists to allow the sale of bitcoin. It warned that cryptocurrencies are “purely speculative and are not currencies” and that those who wish to invest in bitcoin or any other cryptocurrency “do it entirely at their own risk.”

With the over 25,000 tobacco outlets across France, the sale of bitcoin, would mean the cryptocurrency stands a better chance of becoming readily available should the scheme succeed.

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