- Wildberries partners with Whitebird for crypto payment trials in Belarus.
- Hybrid model allows converting cryptocurrencies into ruble-based gift certificates.
- Belarusian regulation ensures secure, compliant crypto transactions for e-commerce.
Wildberries, Russia’s largest e-commerce platform, has begun a revolutionary pilot program in Belarus that could reshape the future of online shopping. In partnership with fintech firm Whitebird, the platform is now testing cryptocurrency payments, offering a glimpse into how digital assets could transform the e-commerce experience.
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A Hybrid Crypto Payment Model
Rather than enabling direct crypto payments to merchants, the system uses an innovative hybrid approach. Customers can convert popular cryptocurrencies like Bitcoin, Ethereum, and Toncoin into gift certificates in Belarusian rubles. These certificates can then be used to purchase items on Wildberries’ website and mobile app, avoiding the volatility of crypto markets while remaining fully compliant with national financial regulations.
The process starts with users registering with Whitebird, which redirects them to its platform to select the cryptocurrency and the amount they want to convert. Conversion rates are displayed in real-time, with no added commissions. Once confirmed, the ruble value is credited to the customer’s Wildberries account, making it ready for use in their next purchase.
Currently, the service is being tested with a limited group of users. This initiative is a major move by Wildberries into the digital asset space, carefully designed to stay within the legal framework of Belarus. The program offers a glimpse into the future of crypto integration in e-commerce, where digital assets may be used for everyday shopping.
A Regulated Approach to Crypto Transactions
The initiative is operating under the supervision of Belarus’s Hi-Tech Park, ensuring compliance with the country’s legal framework for cryptocurrency and digital finance. Whitebird is responsible for managing audits and anti-money laundering checks, securing the entire transaction process. Notably, the funds loaded onto the gift certificates cannot be withdrawn and must be spent on Wildberries purchases, ensuring no misuse.
With Belarus projecting cryptocurrency transactions to reach $3 billion by 2025, this pilot could serve as a pivotal moment in integrating crypto payments into mainstream e-commerce. If successful, the program could pave the way for other companies to explore cryptocurrency-based payment systems, transforming the online shopping landscape.
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