Now you can get your wine in Talence by paying directly in Bitcoin
A suburb of Bordeaux has become the first municipality in France where residents and visitors have the option to do their shopping by paying with cryptocurrencies. The name of the satellite town is Talence, and since the summer a bunch of its local merchants have signed up to offer this option to their customers.
There are already 18 stores in Talence that accept crypto as payment, and the payment option was made possible thanks to an app developed by a French fintech startup called Lizy. The latter has picked the Bordeaux suburb to be one of the first testbeds for the viability of crypto payments.
The app removes the need for an intermediary “ATM” where users have to convert their cryptoassets into cash before going shopping.
In concrete terms, the simple scan of a QR Code (generated in a few seconds by the merchant) allows the approximately 300 million cryptocurrency holders in the world to pay with an online wallet such as Binance or Crypto.com.
It costs nothing to the retailers, and they get the equivalent in euros at the current rate.
Reaching out to youth
According to the Talence economic development agency which has implemented the system, the move was motivated by a need to reach out to a growing customer segment that has part of its wealth tied up in cryptocurrencies.
Reportedly, 12% of French people hold some cryptoassets and yet they don’t see any real-life application apart from speculating with them. Resoundingly, a large chunk of the crypto owners (24%) are young people aged between 18 and 24 and the developers would like to encourage them to spend their crypto money and circulate it in the economy. Another target market is foreign tourists.
Founded in 2022 from a merger of Fidly and EasyWallet, Lyzi is a fintech company that offers brands a cryptocurrency payment acceptance solution. It is part of an omnichannel strategy which connects Web3 to the real world.
Now you can get your wine in Talence by paying directly in Bitcoin
A suburb of Bordeaux has become the first municipality in France where residents and visitors have the option to do their shopping by paying with cryptocurrencies. The name of the satellite town is Talence, and since the summer a bunch of its local merchants have signed up to offer this option to their customers.
There are already 18 stores in Talence that accept crypto as payment, and the payment option was made possible thanks to an app developed by a French fintech startup called Lizy. The latter has picked the Bordeaux suburb to be one of the first testbeds for the viability of crypto payments.
The app removes the need for an intermediary “ATM” where users have to convert their cryptoassets into cash before going shopping.
In concrete terms, the simple scan of a QR Code (generated in a few seconds by the merchant) allows the approximately 300 million cryptocurrency holders in the world to pay with an online wallet such as Binance or Crypto.com.
It costs nothing to the retailers, and they get the equivalent in euros at the current rate.
Reaching out to youth
According to the Talence economic development agency which has implemented the system, the move was motivated by a need to reach out to a growing customer segment that has part of its wealth tied up in cryptocurrencies.
Reportedly, 12% of French people hold some cryptoassets and yet they don’t see any real-life application apart from speculating with them. Resoundingly, a large chunk of the crypto owners (24%) are young people aged between 18 and 24 and the developers would like to encourage them to spend their crypto money and circulate it in the economy. Another target market is foreign tourists.
Founded in 2022 from a merger of Fidly and EasyWallet, Lyzi is a fintech company that offers brands a cryptocurrency payment acceptance solution. It is part of an omnichannel strategy which connects Web3 to the real world.
