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Croatia's Tifon Gas Stations Hope to Tap Tourist Trade With Crypto Payment Support

Forty-six fuel stops will accept bitcoin, ether, stellar, XRP and EOS through a partnership with local platform PayCek.

Updated May 9, 2023, 3:15 a.m. Published Feb 4, 2021, 4:14 p.m.

Tifon gas stations across Croatia have started accepting cryptocurrency payments for fuel and other products and services.

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According to an announcement Thursday, 46 fuel stops will accept bitcoin, ether, stellar, XRP and EOS through a partnership with PayCek, a crypto payments platform from local company Electrocoin.
PayCek will convert cryptocurrency transactions into Croatia's national currency, the kuna, and then pass them to Tifon, said Nikola Škorić, the CEO of Electrocoin.
With the move, Tifon said it is eyeing in particular cryptocurrency payments by foreign customers during the summer, when tourists from across Europe flock to Croatia's cities and coastline.
“Even though cryptocurrency payments in Croatia are still in developmental stages, by introducing this payment option at all Tifon stations, we expect further growth and development,” said Ana Lokas, CFO of Tifon.
Electrocoin was previously involved in a similar project that saw the Croatian Post Office accept crypto payments.

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Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.