Many analysts point out that Bitcoin and other cryptocurrencies thrive in areas where there is a lot of economic crises and fiat currency instability in the region, such as Venezuela.

late last week, announced Cryptobuyer has announced a new deal with traditional payments company Megasoft that provides crypto point of sale and purchase capabilities to more than 20,000 merchants across Venezuela.

Major merchants in the country will use the “Megasoft Merchant Server” platform giving them the option to accept Bitcoin, Ethereum, Dash, Litecoin, Binance Coin, BNB, XPT, Tether and DAI.

The new payments system is scheduled to start in June.

Among the retailers that will benefit from the deal are supermarket chain Central Madeirense, pharmacy network Farmatodo, a host of hardware and auto parts retailers and other major supermarkets, and even movie theater chains such as Cines Unidos.

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These are some of the largest chains in Venezuela, each of which will now be able to accept cryptocurrencies from their customers.

Cryptobuyer has previously partnered with Traki, the largest retail chain in Venezuela, which means that Venezuelans will have a new range of products that can be purchased with Bitcoin and other cryptocurrencies, including food and other essential goods.

But this does not mean that most Venezuelans will suddenly adopt digital currencies.

The recent volatility in the crypto markets is one of the factors that deters potential low-income Venezuelan users in general from craving for cryptocurrencies, and even more so, previous implementations of crypto POS systems in Venezuela have not yet resulted in a large number of transactions.

For example, Traki’s more than 40 stores across the country accept bitcoin and other cryptocurrencies.

But during the first two years of launching the initiative, the store only recorded over 1,000 crypto-only payments, almost 90% of which happened after being partnered with Cryptobuyer.

However, Traki’s introduction of crypto payment options can be considered an important first step in this direction.

Since then, Cryptobuyer signed a deal with fast food chain Burger King last January:

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In Venezuela … “Burger King” restaurants accept cryptocurrency payments

And another contract with the leading hotel chain “Tamaco”.

So, while Bitcoin may not be fully ready for mass use in Venezuela, 20,000 stores would give the option to users should they wish to use cryptocurrencies.

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