ParcelABC to take Bitcoinus

August 16, 2018
Chris Wheal

London-based global delivery player ParcelABC says it will integrate Bitcoinus into its payment system. The Hoxton company claims its the first in its sector to take crypto payments. It already deploys blockchain in its network. 

“Bitcoinus crypto payments will open a free additional cash flow channel to ParcelABC, which is what the company is focusing on as it continues its rapid growth in its highly competitive environment,” said the company. 

Bitcoinus supplies a crypto payment plugin so a business can be paid in Bitcoin, Ethereum or other cryptocurrencies which can then be cashed for euros.

Entering Old St underpass, close to ParcelABC’s east London HQ

Asian ‘crypto-friendly’ expansion

ParcelABC claims its algorithm unites couriers from around the world into one network. The company is particularly eyeing the Asian market for more market share.

Asia remains one of the most crypto-friendly zones in the world “and this region has promising markets that welcome blockchain technology and thus allow crypto acceptance to spread”. 

The company claims the algorithm plans the optimal route in terms of time, price, or time and price.

Sustained B-to-C growth

The courier and logistics industry absorbs a high number of brokers across complex supply chains with few parties controlling all aspects of the chain. 

UK courier market is fiercely competitive

The UK parcel market is worth close to £10bn with Royal Mail, Hermes and Yodel the dominant players with the most growth coming from the Business-to-Consumer and internet shopping market. 

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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