Cardenas Markets, one of the largest Hispanic grocery chains in the country, has partnered with Coin Cloud to offer digital currency machines in the retailer’s 59 stores. Customers will have access to buy and sell Bitcoin, Ethereum and more than 40 other digital currencies with cash.
A recent survey found that Hispanic U.S. adults have adopted cryptocurrency at a rate exceeding the general adult population. According to Morning Consult, an explanation is that the Hispanic community is turning to digital currencies for payments rather than for investments.
“We are pleased to offer cryptocurrency capabilities to our customers through Coin Cloud’s network of digital currency machines,” said Prabash Coswatte, COO of Cardenas Markets. “Through this unique offering we continue to deliver on our commitment to meeting our customers’ evolving needs, especially in today’s digital world.”
Coin Cloud digital currency machines offer Bitcoin and other digital currency options like Bitcoin Cash, Litecoin, Dogecoin, Shiba Inu Coin, Ethereum, and a range of stablecoins and DeFi tokens. New coins added recently include Cardano, Nano, SushiSwap, Algorand, Polygon, OMG Network, and ApeCoin.
Las Vegas-based Coin Cloud operates more than 5,800 digital currency machines across the United States and Brazil. The company’s digital currency machine network is located at nationally recognized retailers, including H-E-B, Spirits & Finer Foods, UNFI customer stores and Yesway.
Ontario, Calif.-based Cardenas currently operates 51 stores under the Cardenas Markets banner, seven stores under the Los Altos Ranch Markets banner and one store under Cardenas Ranch Markets banner, with locations across California, Nevada and Arizona. Apollo Funds recently agreed to acquire Cardenas from investment funds affiliated with international investment firm KKR. Upon completion of the deal, Apollo will combine Tony’s Fresh Market with Cardenas to create a Hispanic- and ethnic-focused grocer.