Texas grocery giant H-E-B has jumped on the cryptocurrency bandwagon, with the installation of 29 Coin Cloud ATMs across the state. H-E-B customers will now be able to buy 30 major digital currencies, including while shopping for their groceries. The San Antonio based company rose to prominence earlier this year after helping residents in the deadly winter storm surge. H-E-B has partnered with Las Vegas-based company Coin Cloud in the pilot program, allowing customers to trade in cryptocurrency, but not to exchange their cryptocurrency for in-store purchases.
Coin Cloud partnership is a sign of the future thanks to the pandemic
US consumers have become more technically savvy over the last 12 months. With restrictions in place, Americans have developed a stronger understanding of online purchasing and cryptocurrencies. H-E-B executives believe that this is the perfect opportunity to dip their toes in the cryptocurrency pool. It’s also another important example of cryptocurrency making its way to mainstream retail channels where it can, eventually, be accepted alongside conventional fiat.
Las Vegas-based Coin Cloud has been aggressively pursuing expansion across multiple US states. Its arrival in Texas will see the company celebrate the installation of its 2000th crypto kiosk. Since December, Coin Cloud has installed its ATMs in more than 200 machines at CAL’s Convenience stores and 300 kiosks at United Natural Foods outlets. Coin Cloud CEO Chris McAlary has been excited by his company’s growth over the last six months and asserts, “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.”
The advantages of a crypto ATM
Cryptocurrency ATM’s allow customers to trade on the crypto market, without the hassle of creating an account on an exchange. Customers have access to popular cryptocurrencies, as well as other digital assets and tokens. The cryptocurrency kiosk will offer further privacy to customers, as they don’t normally collect personal information for smaller purchases.
McAlary believes that cryptocurrency has an exciting future in retail, adding, “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.”