Founded in 1930, Tooting Market In South London is an iconic indoor market and the UK's first food market.
He has received accolades such as Best small indoor market At the 2017 Great British Market Awards Tooting was shortlisted Lonely Planet's favorite lesser-known neighborhoods in the world's greatest cities.'
It now accepts payments in Bitcoin.
Bitcoin integration
Local bitcoin enthusiasts, led by a pseudonymous Bitcoiner known as Hashley Gilessuccessfully introduced Bitcoin payments to the market.
Supported by Bridge 2 Bitcoin (U.K.-based Bitcoin circular economy builder), eight merchants — including restaurants, bars and a vinyl record store — began accepting Bitcoin on June 18, 2024.
The event saw participation from prominent Bitcoin community members and organizations such as com.CommerceBlockmercury layer, Currency stocks, SafekitBitcoin Core Developers, Bleep undergroundAnd Lightning Network developers.
Impact and future prospects
This initiative could be a pivotal moment for Bitcoin adoption in the UK.
Local merchants appreciate the simplicity and permissionless nature of Lightning payments, which provides a solution to banking challenges faced by cash-based businesses.
Nicholas Gregory, President of Mercury Layer & Civkit, highlighted the potential impact.
“Local initiatives like this are fundamental to Bitcoin,” Gregory explained. “The more traders that accept Bitcoin, the more we can push the country to recognize it as a legitimate payment method, making it easier to use from a tax efficiency perspective.”
Bitcoin beach moment uk
This could be the UK's Bitcoin Beach moment, emulating the success seen in El Zonte, El Salvador.
Bitcoin Beach transformed El Zonte into a hub for Bitcoin adoption, eventually leading to Bitcoin being recognized as legal tender in El Salvador.
Likewise, Tooting Market could become a place for Bitcoin adoption in the UK, leading to wider acceptance and use of Bitcoin across the country.
Tooting Market stands at the intersection of tradition and modern innovation, exemplifying how local communities can lead the adoption of new technologies such as Bitcoin.
This combination of historical magic and sophisticated finance could set a precedent for markets in other regions.