Brazilian supermarket began accepting cryptocurrencies

Oásis Supermercados, a Brazilian supermarket chain based in Rio de Janeiro, began accepting payments in cryptocurrency after the firm's employees received training from a local cryptocurrency company.

Now the supermarket chain offers its customers to pay for purchases in Bitcoin Core, Bitcoin Cash and Litecoin. The supermarket joins a growing number of Brazilian companies that already accept payments in digital currency.

Payments in BTC, BCH or LTC go through cryptocurrency processor Coinwise. The system receives digital coins and converts them into fiat equivalent, transferring Brazilian reals to the supermarket every three days.

Like most cryptocurrency companies, the management at the supermarket is organized by crypto-enthusiasts brothers Douglas and Thiago Andrade. They were inspired to introduce cryptocurrency payments by watching the video and understanding the simplicity and convenience of using digital technologies. 

Despite the relatively slow adoption of virtual currency in Brazil and negative regulatory sentiment, digital assets are making their way into the country.

The Brazilian Federal Revenue Ministry (RFB) is seeking to monitor cryptocurrency businesses in an attempt to prevent tax evasion and money laundering. However, this does not stop companies from progressing.

Although cryptocurrencies in Brazil are not as prominent as in the European part or on the American continent, some companies are already starting to offer customers to pay for purchases using digital currencies. 

Las Magrelas bicycle store was a pioneer and has been accepting cryptocurrency payments since 2013. The Brazilian trucking company Viação Garcia, Metrô Brasília, the capital's metro and Tecnisa, a large construction company, are offering customers to pay for services in cryptocurrency. Nobile Plaza Hotel, e-commerce site Fasttech.com and Imperius Food are also actively promoting payment for goods in cryptocurrency.