Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

Sri Lanka’s leading on-line retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes because the South land intensifies efforts to adopt legislation tailored to manage its blockchain area and attract investments from the crypto business.

Kapruka to Launch Cryptocurrency Payments among Weeks

Kapruka (Kapruka.com), a significant e-commerce platform in Sri Lanka, has discovered its intention to begin accepting payments in cryptocurrency quite presently. Kapruka’s founder and Chairman Dulith Herath created the announcement on Twitter. Quoted by the Sri Lankan Daily Mirror newspaper, the manager stated:

“Kapruka plans to just accept crypto payments within the next couple of weeks.”

Founded in 2005 by the Sri Lankan enterprise and web-technology specialist, Kapruka has established itself through the years as Sri Lanka’s largest retailer on the net. Besides its core business, it’s additionally ventured into cross-border e-com exports and last-mile delivery among alternative areas, together with payment solutions and B2B baking services.

Kapruka is currently on its way to become into the second Sri Lankan company to supply its customers a cryptocurrency payment possibility. The primary native business to require the trail of crypto adoption was MTB.lk, a platform that organizes off-roader tours and holidays. MTB.lk took the step in September and is currently accepting coins for its services.

Meanwhile, the govt. in Sri Lanka is wheeling up to manage crypto-related activities and attract investments from the business. A committee of specialists from each public and private establishment was recently discovered to arrange a report on the legal acts and rules required to facilitate the event of the digital banking, blockchain technology, and cryptocurrency mining sectors within the country.

Digital Technology and Enterprise Development State Minister Namal Rajapakse could be a key figure behind the move as he secured the mandatory approval from the cabinet to assemble a team of professionals. Rajapakse, who additionally coordinates youth, sports, and development in Sri Lanka, recently discovered an inspiration to line up a cryptocurrency exchange at Colombo Port city, Sri Lanka’s special economic zone and international financial center.

Kapruka’s announcement of the future introduction of crypto payments on its platform comes because the country’s crypto area remains unregulated. Up till recently, money authorities have had a restrained perspective towards cryptocurrencies with the financial institution of Sri Lanka issuing a warning notice earlier this year for the risks related to crypto investments.