South African retail giant Pick n Pay: Monthly cryptocurrency payment amounts have significantly increased

ChainCatcher news, South African retail giant Pick n Pay reports a significant increase in the amount paid with cryptocurrency each month, rising from approximately $1,350 to $54,000. The Gauteng, KwaZulu-Natal, and Western Cape provinces of South Africa account for the largest share of Pick n Pay's crypto transactions.

It is reported that Pick n Pay began accepting BTC as a payment method in all its stores at the beginning of 2023. The decision to accept BTC payments was made after the Financial Sector Conduct Authority (FSCA) announced that crypto assets are considered financial products.