Cardenas Markets customers will soon be able to collect cryptocurrency while shopping.
The Spanish supermarket chain has partnered with Bitcoin ATM and digital currency (DCM) operator Coin Cloud to roll out DCMs to stores in the western tristate market area, allowing customers to use money to buy, sell and exchange Bitcoin, Ethereum and more than 40 other digital currencies. To store their cryptocurrency, buyers use DCMs in conjunction with the Coin Cloud Crypto Wallet app and other digital currency-enabled mobile wallets being traded.
Buyers store cryptocurrency purchased through a DCM in the Coin Cloud Crypto Wallet app or other mobile wallets compatible with the traded digital currency. (Image courtesy of Coin Cloud)
Based in Ontario, California, Cardenas has 59 stores in California, Arizona and Nevada.
“We are excited to bring cryptocurrency capabilities to our customers through Coin Cloud’s DCM network,” Prabash Coswatte, COO of Cardenas Markets, said in a statement. “With this unique offering, we continue to deliver on our promise to meet the ever-changing needs of our customers, especially in today’s digital world.”
Las Vegas-based Coin Cloud cited a recent study by Morning Consult that found that American Hispanic adults have been adopting cryptocurrency at a faster rate than the general adult population, turning to digital currencies for payments rather than investments.
The most popular digital currency is Bbitcoin, which is also widely regarded as the first cryptocurrency. Essentially a digital file stored in an e-wallet application on a computer or mobile device, Bitcoin value can be sent to and from digital wallets and transactions are recorded in a public blockchain listing.
“With the most authentic offerings and the freshest produce, Cardenas Markets stores now offer the ability to buy and sell digital currencies with real money, starting right here in our Las Vegas home,” said Chris McAlary, CEO of Coin Cloud . “Known as one of the country’s largest supermarket chains serving the Hispanic community, we are delighted to offer their customers digital currency, including me as a loyal Cardenas customer.”
Coin Cloud has previously targeted food retailers as sites for DCMs. Last September, the company announced it would place 500 DCMs in stores for customers served by distributor United Natural Foods Inc., with the option to increase that number to 4,000 UNFI store locations.
“We greatly appreciate working with UNFI as they share our vision of making new products and services accessible to everyone,” McAlary said at the time. “Like Coin Cloud, UNFI is an industry leader and pioneer in what they do. We are honored and delighted to have our machines in 500 of their stores and wholesalers and look forward to expanding our relationship.
In total, Coin Cloud operates more than 5,800 DCMs in the United States and Brazil. Other digital currency offerings include Bitcoin Cash, Litecoin, Dogecoin, Shiba Inu Coin, Ethereum and a range of stablecoins and DeFi tokens. New coins added recently include Cardano, Nano, SushiSwap, Algorand, Polygon, OMG Network, and ApeCoin.