Bitcoin to Join Product Assortment in French Tobacco Stores

French tobacco shops will start selling Bitcoins along with packs of cigarettes and chewing gums from January 1, 2019.

France’s National Federation of Tobacco Vendors (Confédération Nationale des Buralistes) has announced that over 4,000 tobacco shops around the country will add Bitcoin to their familiar assortment of cigarettes, lottery tickets, and other small merchandise starting from January 1, 2019, local radio station Europe 1 reports.

According to the initial information provided to Europe 1 on Wednesday, the vendors got permission from the prudential supervisory authority of the Bank of France. However, the regulator refuted the claim on Thursday and reaffirmed its critical stance on digital assets. At the end of 2017, the head of the central bank called Bitcoin a speculative asset that had nothing to do with a currency.

However, the sale and purchase of digital coins are not forbidden in France, so the tobacco vendors’ federation does not require approval from the Bank of France.

The technical side will be handled by KeplerK, a French-based payment platform that provides cryptocurrency wallet services. The company offers coupons for Bitcoins and other digital assets at over 10,000 points of sale across the globe, allowing ordinary people to become part of the digital economy in a hassle-free way.

To redeem the coins, buyers need to enter the code on KeplerK's platform, which can be accessed either via the website or a mobile app available for iOS and Android devices.

By January 1, about 4,000 tobacco stores will be equipped with software for purchasing 50-, 100-, or 250-euro coupons. Other tobacconists will join later in the year.

Considering the scope of the tobacco shops network in France, this initiative can create a strong momentum for wide cryptocurrency adoption. People without technical skills and little knowledge of cryptocurrencies will be able to make small investments on the go.