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French Tobacco Shops Start Selling Bitcoin

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Six tobacco shops have started selling Bitcoin (BTC) in Paris, France, Reuters reports Tuesday, Jan. 8. However, according to the French magazine Capital, there are 24 shops currently offer crypto.

The tobacco shops act as intermediaries; processing support is provided by Keplerk, a French cryptocurrency wallet provider. Customers can purchase Bitcoin for 50, 100 or 250 euros. The tobacco shop then provides a ticket with an alphanumeric and a QR codes for obtaining the purchased bitcoins via Keplerk’s website. Keplerk takes 7% fee from each payment, 1.25 of which then goes to the shop.

Co-founder of Keplerk Adil Zakhar has told about expanding the project to 6,500 tobacco shops by February.

In November 2018, under the auspices of the Central Bank, the French Prudential Supervision and Resolution Authority (Autorité de contrôle prudentiel et de résolution – ACPR) officially authorized the Federation of tobacco shops to sell bitcoin at the start of 2019. 

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The Confederation of Tobacco shops (or, Fédération des Buralistes), comprises more than 25,000 points of sales in the French territory. These shops are open 13 hours a day, seven days a week. According to the Federation’s website.

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