The future of cryptocurrency is unclear, with fluctuating stock prices and a survey by The Harris Poll showing that 30% of shoppers believe it is the future of money despite 90% consumer awareness. Still, digital money options are accepted by a growing amount of retailers and grocers are adding machines to their locations as they did with coin cashing machines in the past.
For example, an H-E-B store is the site of the 2,000th digital currency machine installation by Las Vegas, Nev.-based Coin Cloud. Shoppers there and at other stores that offer Coin Cloud kiosks can access several types of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Litecoin, several U.S. dollar stablecoins and DeFi tokens.
In addition to the privately-held San Antonio, Texas-headquartered H-E-B, Coin Cloud currently has retail partnerships with United Naturel Foods Inc. (UNFI) and CAL’s Convenience Store. UNFI is a more recent partner, with 300 locations and a forward-thinking consumer base likely to be receptive to digital currencies, Coin Cloud pointed out in a recent news release.
According to Chris McAlaray, founder and CEO of Coin Cloud, the 2,000th installation is a milestone that represents the acceptance of digital monies as an option in today’s retail landscape.
“We’re thrilled to reach this juncture of our business, as our growth is a tangible representation of interest in digital currencies and of Coin Cloud’s mission to provide communities with seamless options to buy and sell,” he said. “As we continue to expand, retailers will become increasingly aware of the important role digital currency plays in the future and how Coin Cloud’s expansive rollout of DCMs will help them meet the forward-looking needs of their shoppers from a technological and financial standpoint.”
With approximately 400 stores in Texas and Mexico, H-E-B is No. 13 on The PG 100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America. Providence, R.I.-based UNFI is No. 47 on The PG 100.