Crypto Will Be Part of Sri Lanka’s Top Online Retailer, Kapruka

Kapruka, which is the top online retailer in Sri Lanka, has unveiled its dire wish to provide crypto payment support to online consumers. The announcement has been made in the follow up of the Sri Lankan Government’s latest initiative where the Government intends to legislate internal virtual industry based on blockchain.

The leading and top e-commerce market of Sri Lanka is Kapruka which can be accessed at kapruka.com. Kapkura has made an announcement that in a matter of few weeks it would be able to provide crypto payment support. This is the support, which the online retail company was longing for quite some time. However, it wasn’t unable to do so because there was some restraint from the Sri Lankan Government in accepting crypto as means of transaction.

Dulith Herath, the Chairman of Kapruka, unveiled the intention of his company in the message which he tweeted from his personal Twitter account. He told specifically that after a few weeks his company retail company would start accepting crypto as payment against online purchases. Kapruka’s crypto acceptance proposal was also duly covered by a local newspaper called “Daily Mirror”.

It was reported in the Daily Mirror that only a few weeks are left when Kapruka will inaugurate crypto payment mechanism.

Kapruka was established by Dulith Herath in the year 2005. It has a vast experience in the e-commerce industry spreading over more than 16 years. During this 16 years’ time, Kapurka was able to successfully become the leading online retailer of Sri Lanka. It is also currently the largest online marketplace for Sri Lankan consumers. Even international consumers can order deliveries of certain products within their countries directly from Sri Lanka. Usually, the payments could be made through several modes i.e. cash in local currency, debit/credit card, local and international bank transfers. In addition, there are a few local payment applications through which Sri Lankan consumers can settle their purchase invoices as well.

There is yet an acute shortage of crypto payment mechanisms in Sri Lanka. So far there is only one company in Sri Lanka that has adopted and successfully integrated a crypto payment mechanism. The company’s name is MTB.lk which is involved in the business of arranging holiday tours for mountain bikers in the country. In the month of September this year, MTB became the first company in Sri Lanka that provided crypto payment services to its clients. Now there are two companies in Sri Lanka with crypto payment options, and Kapruka’s inclusion is the second.

Kapruka’s decision to provide a crypto payment mechanism was greatly influenced by Sri Lankan Government’s latest initiative. The Government in Sri Lanka is also trying to legislate its internal crypto space by regulating it. However, the legislation is still in the process of negotiations and discussions.