The Rosetta Coffee Company has announced that it will begin accepting Bitcoin, Bitcoin Diamond, Bitcoin Cash, Dash, Litecoin, and Zcoin. This will allow Rosetta Coffee to export internationally for the first time, and to increase their farmer’s wages by sending cryptocurrency directly to them, cutting out middlemen.
Chargebacks had been such an issue when exporting coffee internationally that Rosetta Coffee had cut off all potential international clients. Now that the company is accepting cryptocurrency, which is immutable and irreversible, it can export coffee to anywhere in the world without risk. Co-founder Aaron Skeen says, “We have always been restricted from selling to international customers due to poor merchant protection from Visa and Mastercard. We are excited that cryptocurrency allows us to start offering our coffee to new international customers, knowing that the purchase is guaranteed no matter which country they are located in.”
Beyond this, fiat payment networks regularly deal with payment delays, lack of security and high fees. Accepting cryptocurrency will mitigate all of these problems.
Rosetta Coffee’s network of coffee bean farmers will see this as steps towards more efficient payments and lower fees, translating to higher income. Skeen says, “Cryptocurrency allows them to receive payment directly and immediately without paying a middleman. They will be able to take home more of what they earn. We think this is awesome and it aligns directly with our mission. In the coming weeks and months, we will be working with farmers to iron out this process and make it more accessible.”
Rosetta Coffee is a small batch coffee company based in the United States that has only been around since 2006.
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