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Czech Utility Company To Start Accepting Bitcoin (BTC) Payments

The Czech Republic is leading the way in terms of Crypto adoption. One of its largest energy suppliers, Pražská Plynárenská, has announced that it will start accepting payments from customers in the form of cryptocurrencies. The first to be rolled out, will be Bitcoin (BTC) payments that will be available as soon as early June. This move brings the energy sector closer to the cryptocurrencies that use the valuable resource for mining.

Pražská Plynárenská is one of the largest Natural Gas suppliers in the Czech Republic with a customer base of over 420,000. The company is also actively engaged in solar P.V installations, electricity and home heating systems. The company further provides automated data processing, software delivery and IT training and consultancy services. The Czech company also has a hand in the telecommunications industry, real estate maintenance, motor vehicle maintenance and road passenger transport.

It is with this background of Pražská Plynárenská diversifying its business that it is no surprise that the company intends on embracing cryptocurrency payments. The CEO of the company, Pavel Janeček, was very emphatic about the new service and had this to say:

In June, we are opening a payment gateway, which will automatically transfer our bitcoin payments into regular currency, so that we don’t have to speculate with cryptocurrency. But if anyone wants to pay in an alternative way, we want to allow them to do that.

This new service will make the company more appealing to the younger generation in the country who are used to mobile devices, fintech apps and now cryptocurrencies.

The Czech Republic has seen an increase of Cryptocurrency adoption with many Czechs willing to use Bitcoin (BTC) rather than the Euro. Most of the Czechs actually prefer to store their hard earned earnings in BTC rather than the local Koruna.

With regards to the market performance of the King of Crypto, BTC is holding steady at $7,508 and down less than a percentage point in 24 hours. Ethereum (ETH) on the other hand has risen 1.85% in 24 hours and is currently trading at $598.

Hopefully as the weekend comes to a close, and also the end of the month, we shall see more funds moving into the crypto-market to build the much needed volumes.

[Photo source, cryptoren.com]