It is no surprise that the rising price and popularity of Bitcoin will eventually prompt more traders and merchants to start accepting commerce. Malaysia has been in the news recently with regulators and higher acceptance of cryptocurrencies. This has been further fuelled by the report that one of the top investment companies has since bought a large stake in Luno, the leading digital asset exchange in the country.
Moving into everyday commerce
The price of BTC continues to move upwards and that trend is set to continue as more investors are now looking into the cryptocurrency market. That said, it is only a matter of time before more merchants start accepting cryptos for products and services that they provide. Meanwhile, the COVID-19 pandemic only accelerated the need for more digitized services and naturally, Bitcoin would be right in the middle of all that.
Buy pharmaceutical products online, pay with BTC
Goobat Sdn Bhd, a renowned pharma tech firm that operates the first online pharmacy in Malaysia has announced that it will accept BTC on its e-commerce store. This is going to be available on Goobat.care and according to its co-founder Asher Looi, it is how the future will be. There is after all a fast-growing number of cryptocurrency investors in Malaysia and this would be the right way forward for the firm.
Since the central banks and regulators have started exploring and recognizing cryptocurrencies, it will be right for the retail industry to follow suit. Hence, it is crucial that consumers are aware of the security and reliability of BTC transactions. For this to work, Goobat.Care will use the Bitpay gateway (based in the US) for crypto clearing. The idea of an online pharmacy was to provide customers access to affordable products, especially among those in suburban areas. There are more than 3,000 products available on Goobat.Care.
This is an interesting situation as it means traditional businesses like pharmacies that once relied on face-to-face interactions can start operating on digital platforms. Meanwhile, it also opens up new opportunities now that BTC is accepted. As the pioneer in this fintech platform, it would surely spur higher acceptance among both buyers and sellers across the nation.