This E-Commerce Accepts Crypto Payments, Making Online Shopping Easier!

JAKARTA – A trading platform from Sri Lanka, Kapruka, is reported to be accepting crypto payments in its services. This was conveyed by Kapruka's boss, Dulith Herath in a Twitter tweet.

“Kapruka plans to accept crypto payments in the next few weeks,” wrote Herath as quoted by the Daily Mirror.

Kapruka has been around since 2005. The company was founded by entrepreneur and technology specialist Dulith Herath. Over the years, Kapruka has established itself as the largest retail company in Sri Lanka. In addition, Herath has also ventured into the long-distance delivery service business including B2B payment solutions.

Currently e-commerce Kapruka is working to become the second Sri Lankan company to offer crypto payments to its customers. The first company in Sri Lanka to adopt crypto before Kapruka was MTB.lk which is a platform for organizing mountain bike tours and holidays. The company decided to accept crypto since last September.

On the other hand, the Sri Lankan government plans to regulate all crypto-related activities. To take this step, the government formed a team of experts from government and private institutions to work out the necessary regulations. Its aim is to facilitate the development of the digital banking, blockchain technology and crypto mining sector in Sri Lanka.

A key figure in the policy is Namal Rajapakse, Sri Lanka's Minister of State for Technology Development and Digital Enterprises. Rajapakse managed to form a professional team to work out the regulations. He will also set up a crypto exchange based in Colombo Port City which is a special economic zone.

For your information, Sri Lanka has not set any laws related to crypto. Therefore Kapruka can decide to accept payments in crypto. However, the Central Bank of Sri Lanka has warned of the risks associated with investing in cryptocurrencies.