Mexican retailer Grupo Elektra embraces bitcoin for payments

Grupo Elektra in Mexico will accept Bitcoin as payment for goods, making it the latest shop in Latin America to do so as the cryptocurrency's popularity increases. According to an online ad published on Twitter by Mexican billionaire Ricardo Salinas Pliego, Elektra, a grocery and banking chain owned by conglomerate Grupo Salinas, is providing a 20% discount on Bitcoin transactions.

"It turns out that the rumors are genuine. Elektra is the first (retail) store in Mexico to accept Bitcoin payments "In a tweet, Salinas stated.”I'm sorry for beating the competition once more." BitPay, a Bitcoin payment service company located in the United States, will handle the transactions.