Ukraine’s Tech Retail Giants Begin Accepting Bitcoin

Ukraine’s Tech Retail Giants Begin Accepting Bitcoin

  • Bitcoin
  • September 3, 2022
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Techno Їzhak and Stylus, two of Ukraine’s largest tech-based retailers, have now begun accepting Bitcoin as a form of payment. 

According to a report by Bitcoin Magazine, citing local news outlet Obozrevatel, the two behemoth tech retailers will be allowing customers to pay in $BTC for goods and services. The reports claims the company will be using payments providers Whitepay to serve as the company’s facilitator between customers and merchants. Whitepay operates as a subsidiary of WhiteBIT, a European-based crypto exchange. 

The report claims that customers will be able to use Bitcoin for payment both online and at brick-and-mortar stores, which total more than 100 retail locations across both tech companies. Customers who pay in-person will be able to use Whitepay’s custom point-of-sale system, which provides a QR code to merchants to document the transaction. The QR code will include information on the current exchange rate, in addition to the amount of time the transaction takes to complete on the network. 

According to the report, Ukrainian interest in Bitcoin has grown throughout the Russian invasion. Earlier in the year, Volodymyr Zelensky, President of Ukraine, signed a “On Virtual Currency” bill, which provides a legal framework for Bitcoin to operate with the country’s economy.

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