Bitcoin payment in September will become the new Ulmart payment company has yet to decide which products can be purchased with coins

Bitcoin payment in September will become the new Ulmart payment company has yet to decide which products can be purchased with coins

The plan began to accept bitcoin payments from September 1st Russia’s leading online retailer Ulmart announced Wednesday.

Russia has the largest online retailer Ulmart

Founded in 2008, headquartered in St Petersburg, Ulmart has more than 450 facilities, including logistics centers and service stations. This is a Russian version of the Jingdong store. The current Ulmart in the Russian service covering more than 240 city and town.

Trackad is a data management company in Russia hundreds of electronic commerce website. Trackad study shows that Ulmart is the largest online retailer in Russia, it received 200 thousand visitors per month, daily orders in 30000, including 120 thousand pieces of goods and services.

According to Ulmart reported Wednesday news:

“Russia is planning the biggest online retailer Ulmart started to accept bitcoin payments from September 1, 2017.”

In addition to list on its website, the company also has a growing stock market. The announcement said: “at the end of the year, third party sellers can offer 1 million pieces of goods.”

So bitcoin payment will not be applicable to all products listed on the site, and the company has yet to decide which products can be purchased with coins. However, Ulmart revealed that higher priced products may first be positioning. Ulmart added:

“Such as second-hand car and apartment, may soon put into the market, and it is quite good to make a purchase by bitcoin.”

The Russian regulatory environment

Given bitcoin blockchain and technology vigorous development in the world, Russia changed bitcoin legitimacy attitude. This laid the foundation for the Ulmart to provide bitcoin payment services.

In the past, Russia even considered complete ban bitcoin, and imprisonment punishment to the people who own bitcoins. In February 2014, Russia issued a warning to prohibit the use of bitcoin, because bitcoin is used for money laundering or terrorist financing.

However, after several years of time, Russia face bitcoin trading has been booming. Russia’s share in the currency trading market is also gradually increase. It also promotes the similar bitcoin payment service will be more in-depth development in russia.

Therefore, in April 2017, Russia began to admit that bitcoin is a legitimate financial instruments, and plans from the beginning of 2018 against bitcoin money laundering.

Ulmart chief international officer BrianKean said: “we welcome the Russian government bitcoin technical review.” He is looking forward to cooperate with the government, in part to play a major role in the development of bitcoin “become” wisdom economy and city “.

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