October 29, 2021

Fuh! Thailand's Largest Supermarket Has Started Using Crypto As A Transaction Tool?

 Thai retail giant Central Retail Corp has confirmed the issuer for their cryptocurrency asset ‘C-Coin’, which can be used as a substitute for fiat currency. C-Coin can be used to make payments at Central eateries and partner stores both to purchase products and services.

While the original token pioneer is currently limited to Central Retail employees, the organization plans to expand the offering to customers as well. C-Coin is a crypto asset built on a blockchain network and is currently undergoing a distribution process among Central’s 80,000 employees worldwide.

The company is currently focusing on launching a trial phase to get feedback on token usage and functionality. This is to further expand the service to its customers if the results obtained are satisfactory.

This was confirmed by Kowin Kulruchakorn, chief innovative officer at Central Tech, the retail giant’s unit that created C-Coin and operates all of CRC’s Omni channels and e-commerce platforms. Even so, so far Kowin has not provided any details on the C-Coin distribution process among its future customers. At the same time there is also no information on whether C-Coin will be traded or not.

Launching private crypto exclusively to promote products and franchisees may be another opportunity presented in the crypto market. Earlier in the month, Mesut Özil also announced the launch of his personal crypto token to further market his clothing brand, M10Streetwear.

With this we can see the development of crypto becoming more widespread. Many parties try to take the opportunities presented to further expand their markets.