Narvesen Retail Network and Press Kiosks to Start Selling Bitcoin in Lithuania

A network of Narvesen stores and Lithuanian Press kiosks in Lithuania will start trading bitcoins, Delfi news agency reports. These enterprises were chosen due to the extensive network and positive attitude towards cryptocurrencies.

Narvesen CEO Vigintas BARTASEVIČIUS commented on the initiative:

“We currently have a network of nearly 60 Narvesen stores, where we are constantly looking to expand our selection of products and services. We recently offered a cash withdrawal service to our busy city customers, and now we are starting to sell Bitcoin vouchers, both cash and card. Bitcoin coupon sales are geared to meet the needs of a younger audience.”

In order to convert euros to bitcoins, purchased with a coupon, one doesn’t need identification cards or other documents — only the email address and the bitcoin wallet. Rebiton service is to handle the processing of coupons. The founder of the service, Raimundas ASAUSKAS, noted that this initiative fully complies with regulatory authorities’ rules to prevent money laundering, control fraudulent activities and other legal requirements:

“We perform evaluation and validation of email and IP addresses using solutions from partners providing similar services to brands such as Disney, IBM, American Airlines or Santander."

In June, it became known that Lithuania was preparing new rules for conducting crypto transactions, requiring companies to confirm the identity of customers.

Image courtesy of Baltic Times