Czech Republic Announced Its Plans to Accept Crypto Payments

Czech Republic, the largest energy suppliers has unveiled its plans to accept crypto payments. The Czech management said by next month Bitcoin payment option should be available.

Pražská Plynárenská is one the major suppliers of natural gas in the Czech Republic. It is serving around 420,000 homes and businesses. According to its website, the firm also involves an electric and heating utility that installs gas-operated boilers and photovoltaics. Currently, Bitcoin Payments is its latest project.

The CEO of the Prague-based company, Pavel Janeček said,

“In June, we are opening a payment gateway, which will automatically transfer our bitcoin payments into regular currency, so that we don’t have to speculate with cryptocurrency. But if anyone wants to pay in an alternative way, we want to allow them to do that”.

He also believe that the approach of considering Bitcoin payments will help his company to attract more younger generation. Since, the firm had organized rental car that runs on eco-friendly CNG for YouTube vloggers. He reiterated saying that;

“We are trying to reach out to the young customers who buy everything with their mobile phones”.

Czech Businesses are now indulging more into cryptocurrencies as a mode of payment. However, several companies or institutions consider accepting crypto payments as marketing move whereas other are more curious about cryptocurrency.

More Businesses accepting Cryptocurrency

Recently, Reis & Irvy Inc will be the first to accept cryptocurrency in exchange for a range of frozen yogurt and ice cream consumables. The company will install vending robots in different locations. The first of these will be installed at 1000 select locations in the United States this spring and summer. The robots will accept a range of cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BTH), Litecoin (LTC) and Ethereum (ETH).

Yet another, the largest home-builders in Northern Ireland is accepting Bitcoin. Considerably, it is the first homebuilders firm to take a step towards Bitcoin payment. It also known as Ballyclare- based Hagan Homes.

James Hagan, the Managing director, said:

“Bitcoin is an innovative new payment method and essentially a new kind of money. It is very similar to a cash transaction. There has been significant growth in the use of Bitcoin worldwide, and acceptance of this new channel reflects our willingness to respond to the market”.

Noticeably, customers are paying with cryptocurrency for more number of variety of products. One of the popular members of Czech Crypto Community Subway Stores and Paralelní Polis café in Prague are also into accepting crypto payments.

Meanwhile, many central banks are actively involved in cryptocurrencies till date. But among Czech businesses, several banks have tried to halt crypto transactions. Such as, MBank has issued restrictive policies that used by traditional financial institutional globally concerning over money laundering. Likewise, Raiffeisenbank and Komerční bank imposed strict crypto transactions regulations.

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Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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