GoObat, a Malaysia-based health-tech company, has become the first online pharmacy to accept cryptocurrency payments in the country.
Founded in 2019 and launched in December 2020, GoObat allows Malaysians to buy over-the-counter (OTC) pharmacy and personal care products online, delivered to their doorstep in just a few hours.
Cryptocurrency payments have become an increasingly widespread payment option in recent years, especially with a larger population of blockchain-enthusiasts holding both Bitcoin and similar cryptocurrencies.
To ensure security with cryptocurrency payments, GoObat will leverage on the Bitpay payment gateway — the largest provider for blockchain payment services based in the United States.
Once a transaction is completed on the platform, customers based in Klang Valley (Malaysia) can choose to receive their products either by a 3-hour "Express Delivery", or a "Standard Delivery" option.
Moving forward, GoObat targets to achieve 100,000 registered consumers in the coming months, and RM10 million in revenue in the first quarter of 2021.
Founder of GoObat, Asher Looi, also adds that the company plans to expand regionally into Indonesia, Singapore, Thailand, Vietnam, and India in the coming months.
"There is a growing number of cryptocurrency enthusiasts in Malaysia. In fact, we have listened and learnt that there is an increasing demand from consumers calling for the acceptance of Bitcoin and cryptocurrencies as a payment option and so, we believe this is a step in the right direction," said Asher Looi, Co-Founder of Goobat.