Athey Nallatha, a Kerala-based startup that sells fusion pickles to global as well as domestic clientele, becomes the first firm in the state which is ready to accept crypto for its payments. The startup claimed that it is also the 7th company in the country to enter into crypto-based transactions.
The firm started its payment gateway to customers by CoinBase on August 28, 2021. The portal accepts digital currencies like Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, USDC and DAI, though a transaction is yet to take place.
When inquired as to why they included crypto as a mode of payment, besides Google Pay and UPI while it is yet to earn popularity in India, director and co-founder of Athey Nallatha, Akshay Raveendran said that the promoters have been involved with the crypto right from the starting itself. They used to monitor and invest in crypto. Besides this, if they implement blockchain technology on the operation side, it is going to save them a lot of money and customers are going to profit from that. He added that there are huge scaling ideas but as an initiating move, they have done that.
Interestingly, the firm doesn’t accept cash because of the coronavirus pandemic. Founded during the pandemic in June 2020, by 2 management graduates Akshay Raveendran and Hafez Rahman, the startup also intends to provide employment opportunities to mothers.
The startup sells its products online through Amazon and its own website. It also sells through 30 retail stores. For serving Middle Eastern customers, Athey Nallatha is tying up with the online website Noon.com. Akshay confirmed that he received his first order from Germany. The shipments are going soon.