Bitit is currently partnering with Neosurf and its 100,000 plus local stores, and the Bitcoin startup is now planning to expand its network to up to 150,000 retailer stores.This marks the beginning of a new stage for the Parisian-based company of five, which has partnered with distribution network specialist Flexepin, to launch cash-for-Bitcoin buying in over 15,000 convenience stores in Canada and Australia.
Bitit CEO Nicolas Katan, said that the company was keen to start with extending its Bitcoin-by-cash buying service to Australia and Canada as a means to increase the size of its network.Bitit also undertook the strategic decision to partner with Cashlib, currently available in France. Now, Bitcoin is set to spread into wider use in France as Bitit is enabling the cryptocurrency to be purchased through Cashlib vouchers and its 35,000 stores.Nicolas Katan said:
“Bitcoin by cash market is only just beginning. Vouchers payment methods allows us to better mitigate risks and reduce costs. By using our network, thousands of users can now buy Bitcoin over the counter as easy as any other product.”
He adds: “Now French users will have the choice to obtain Bitcoin either through Neosurf or Cashlib. Until now, there have only been limited opportunities to purchase Bitcoin with cash in France.”Flexepin and Cashlib vouchers are available in different denominations, ranging from $25 to $500 each. Once a user acquires it, they just need to enter the voucher code on Bitit website and redeem it in Bitcoins. Upon confirmation of the voucher code, the Bitcoins are instantly sent.Parallel to the increase of credit card fraud, users now have a better tool to protect their identity. By not exposing their details online, there is no need for a credit card or a bank account for the transaction. It is also really easy to use. Indeed, what could be better than buying one’s own Bitcoins along with a magazine at your corner store? Customers can make their Bitcoin purchase at a time that suits them in their neighbourhood. They can now switch between three vouchers, choose the value and redeem it in Bitcoins on the Bitit platform.Through the multiple choice of vouchers, Bitit aims to target the European, Canadian and Australian unbanked who need a fast way to use the latest payment technologies and access the e-commerce world.These partnerships strengthen the international presence of the young French tech company, which aims to become the fastest platform on earth to deliver digital Blockchain assets to individuals and institutions.