Lithuania is confidently keeping pace with the newest trends in the global financial market. United Colors of Benetton implemented in their Lithuanian franchise a new payment option, which includes digital currencies such as bitcoin, ethereum, dash, steem, and many others, as a recently released video showed.
“We are pleased to announce that United Colors of Benetton in Vilnius are the first who will accept cryptocurrencies. We would like to support the idea of freedom and variety of different payment possibilities,” Arturas Zuokas, co-owner of the Lithuanian franchise of United Colors of Benetton, stated.
“In the future, payment by cryptocurrency will be available everywhere,” he added.
Lithuania is actively joining the cryptocurrency market by applying the fintech in different areas. The country contributes a lot to the establishment and development of blockchain technology as well as virtual coins in general.
For example, everyone can now pay with cryptocurrency in many restaurants, shops, boutiques, barbershops, computer services and fitness centers in Vilnius.
Useful and easy to work CopPay, a system like BitPay that processes crypto transactions, is widespread in the country because it helps to minimize losses caused by the volatility of the cryptocurrency exchange rate.
Though being just a small country on the Baltic coast, it shows surprisingly advanced development in the financial technology. Moreover, a Blockchain Center was recently opened in its capital, Vilnius.