Russian e-commerce giant Ulmart is planning to start accepting bitcoin as a method of payment from 1 September, 2017. The online retailer was considering accepting bitcoin earlier in February 2017, only to see intervention by Russia’s central bank.
Launched in 2008, Ulmart – essentially the Russian counterpart of Amazon – is based in St. Petersburg and serves over 240 cities and towns in the Russian Federation.
In a press release published on Wednesday, Ulmart adds that it has been monitoring the regulatory environment of cryptocurrencies in Russia for several years.