Shoppers wanting to cash out their crypto holdings to buy groceries may soon be able to do so at many H-E-B supermarkets in Texas.
According to a Friday report from the Houston Chronicle, crypto ATM firm Coin Cloud is preparing to install machines into 29 H-E-B locations in the Houston area. The ATMs will allow customers to buy and sell more than 30 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC), certain DeFi tokens, and U.S. dollar-pegged stablecoins.
Coin Cloud CEO and founder Chris McAlary said he expects “retailers will become increasingly aware of the important role digital currency plays in the future.” The crypto ATM company will reportedly set up its 2000th machine at an H-E-B store, allowing customers to make crypto transactions using cash, debit cards, and credit cards.
Texas is also becoming somewhat of a hotspot for crypto mining firms, given the state’s sources of renewable energy and loosely regulated power grid. Blockcap announced it would be establishing offices in Austin, and Riot Blockchain said it planned to acquire a data facility east of the state capital for $650 million.
Founded in 1905, H-E-B is one of the oldest supermarket chains in Texas, with 400 locations across the state as well as Mexico. The company was ranked 13th on the Progressive Grocer’s 2021 list of the top food and consumables retailers in North America, and has been applauded by many residents for their food donations following major disasters including the major winter storm earlier this year.
Cointelegraph reached out to H-E-B and Coin Cloud, but did not receive a response at the time of publication.
Sourced from cointelegraph.com.
Written by Turner Wright on 2021-06-18 19:30:00.