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First online store accepting cryptocurrency as payment launches

 

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A new online store is attempting to make cryptocurrency payments for everyday items a reality.

The Havven e-store is the first online shop in the world to only accept payment in a stable cryptocurrency in exchange for physical goods.

A ‘stable coin’ is a cryptocurrency that is pegged to another stable asset (like gold or the US dollar), as opposed to currencies like Bitcoin, which can fluctuate drastically from day to day.

Havven’s stable coin is called eUSD and keeps a stable value of US$1. According to Havven founder Kain Warwick, this makes it a viable payment method for everyday transactions.

Warwick said the online store will provide a tangible example of the possibilities of stable coins for both retailers and shoppers.

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“Havven was founded on the belief that the future of digital money is a stable and scalable cryptocurrency. Many credible organisations in our industry share that view, and have proven as much by backing our project in a significant way.

“Traditional merchants and consumers need more tangible reasons and experiences to believe that cryptocurrencies are much more than just a store of value.

“By opening the world’s first e-store to solely accept payment by stable coin, we can start to bridge that gap and prove the usefulness and efficiency of our platform. These very early transactions will also allow us to review and improve on the network in a controlled capacity ahead of launching full network capabilities in the coming months.”

Shoppers are currently able to purchase Havven-branded t-shirts and hoodies through the store, with more products to come.

 

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