Bitcoin on the Streets: 25 Paris Stores Ready to Accept Bitcoin Payments

According to Huobi Blockchain Research Center, since November 17, Passage du Grand Cerf has become the first Paris market to accept Bitcoin, with 20 stores ready. These stores join the growing list of Bitcoin payments in Paris and are able to accept both fiat currency and Bitcoin with the help of some Bitcoin organizations.

Passage and Bitcoin

Huobi Blockchain Research Center learned that with the help of France's Cercle du Coin Bitcoin Club and the split-account La Maison du Bitcoin, Passage merchants are very welcoming of Bitcoin, making Bitcoin an additional and optional payment method based on the PSP system without having to pay high fees and transaction rates. However, merchants not only hope to make huge profits using Bitcoin, but also want to tell Bitcoin owners in Paris that they can pay in more places than just online stores.

Jacques Favier, secretary of La Cercle du Bitcoin, said:

“In France there are already many restaurants, bars and various shops that accept Bitcoin, but we think that a street in the heart of Paris (which used to be a gallery) will make this very simple idea widely accepted: Bitcoin can be used for payments. You know, there has been a lot of debate about the blockchain technology behind Bitcoin, and it goes far beyond payments. We still need to remember that Bitcoin is a digital currency.”

Currently, Passage already has a Bitcoin ATM, and Le Cercle has multiple Bitcoin companies as members, so Passage stores can seek support and guidance without any obstacles. Since BitPay is one of the partners of this "street" project, stores can choose to accept Bitcoin payments or cash them out immediately, giving them the option to accept Bitcoin while ensuring that fiat currency is paid first.

Passage du Grand Cerf

The Parisian gallery, a protected historical monument, is home to 25 shops including a restaurant, creative workshops and stores selling "great works by creators, stylish decorative items, trendy and sophisticated accessories, and a curated selection of unique collections".
Favier added:

“Passage is an experience. We hope it will convey the smart idea of ​​Bitcoin to tourists who are afraid of Bitcoin because of rumors. For us supporters or participants, building a community, meeting friends, exchanging ideas... all of these are so necessary!”

Encourage Bitcoin payments

Passage du Grand Cerf accepts Bitcoin payments, which could boost cryptocurrency usage and payments, and benefit other merchants around the world. Shopify has already added payment options using Bitpay, and other services like BitWage and BigCommerce are looking to build a channel between fiat currencies and Bitcoin.

Not only in Europe, Bitcoin has also gained support in India. Huobi Blockchain Research Center learned that India has recently adjusted the use of the Indian rupee, and people are looking for alternatives to the rupee, especially Bitcoin. The shift of the Indian rupee to Bitcoin has triggered a 20% increase in BTC exchanges and may introduce Bitcoin to the street market in India.