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Supermarket News Staff | Jun 24, 2022
Cardenas Markets customers soon will be able to pick up cryptocurrency while they’re out shopping for groceries.
The Hispanic grocery chain is partnering with Bitcoin ATM and digital currency machine (DCM) operator Coin Cloud to deploy DCMs in stores across its three-state Western market area, enabling customers to use cash to buy, sell and exchange Bitcoin, Ethereum and more than 40 other digital currencies. To store their cryptocurrency, shoppers use the DCMs in tandem with the Coin Cloud Crypto Wallet app and other mobile wallets compatible with the digital currencies being transacted.
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Ontario, Calif.-based Cardenas operates 59 stores in California, Arizona and Nevada.
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“We are pleased to offer cryptocurrency capabilities to our customers through Coin Cloud’s network of DCMs,” Prabash Coswatte, chief operating officer at Cardenas Markets, said in a statement. “Through this unique offering, we continue to deliver on our commitment to meeting our customers’ evolving needs, especially in today’s digital world.”
Las Vegas-based Coin Cloud cited a recent Morning Consult study found that U.S. Hispanic adults have adopted cryptocurrency at a rate exceeding that of the general adult population, turning to digital currencies for payments rather than investments.
The most popular digital currency is Bbitcoin, which also is widely considered the first cryptocurrency. Essentially a digital file stored in an e-wallet app on a computer or mobile device, Bitcoin value can be sent to and from digital wallets, and transactions are recorded in a public blockchain list.
“Providing the most authentic offerings and freshest products, Cardenas Markets stores now offer the capabilities to buy and sell digital currencies with cash beginning right here in our home of Las Vegas,” stated Chris McAlary, CEO of Coin Cloud. “Recognized as one of the largest grocery chains in the country serving the Hispanic community, we are delighted to deliver digital currency to their customers, which includes me as a loyal shopper of Cardenas.”
Coin Cloud has previously targeted the grocery retailers as sites for DCMs. Last September, the company announced that it was placing 500 DCMs in retail customer stores served by distributor United Natural Foods Inc., with the potential of increasing that number to 4,000 UNFI retailers locations.
“We really value working with UNFI, because they share our vision of making new products and services available to all,” McAlary commented at the time. “Like Coin Cloud, UNFI is an industry leader and pioneer in what they do. We’re honored and excited to have our machines in 500 of their retail and wholesale customer locations and look forward to expanding our relationship.”
Overall, Coin Cloud operates more than 5,800 DCMs across 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.
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