Crypto payment processing company Electrocoin is partnering with a local oil and gas company in Croatia to allow drivers to use crypto to pay for a full tank.
According to the Croatian news agency Poslovni dnevnik, people who have to refuel their vehicles at one of the country’s 46 Tifon stations can now pay with Bitcoin (BTC), Ether (ETH), Stellar (XLM), XRP and EOS. Tifon will integrate PayCek, a crypto payment platform from Electrocoin, into its existing payment systems to make this possible.
Ana Lokas, CFO of Tifon, said the company expects foreign tourists to Croatia would likely contribute to the development and growth of crypto payments in the country as they “have spread these payment habits widely”. Many countries are still warning not to cross borders during the pandemic, but the number of new daily COVID-19 cases in Croatia has also dropped below 1,000 since peaking in mid-December.
Electrocoin’s founder and director Nikola Škorić said the partnership was “the result of reputable companies increasingly realizing the possibilities of cryptocurrencies”. He explained the payment system in detail:
“If a person refills HRK 400 and wishes to pay in cryptocurrencies, Tifon receives HRK 400 the moment we inform Tifon via PayCek that the payment has been processed,” said Škorić. “At no point are they endangered.”
“Bitcoin, when it was created ten years ago, was designed for payment […] Cryptocurrencies are mainly mentioned in terms of investments. On the other hand, partnerships like this one with Tifon and many in the coming months in Croatia show that cryptocurrencies are slowly returning to their original idea – use for payment transactions. ”
Although Lokas said crypto payments are still in their infancy in Croatia, the country has led the way in certain areas of the ecosystem. Two years ago, a similar program was carried out between the Croatian Post and Electrocoin, which allowed residents to redeem their crypto in three post offices in the city of Zadar. In addition, Telos announced last year it would be marketing Croatian seaside properties valued at $ 35 million.