Honolulu-based Tealet has started using a payment system that the company, which connects tea growers with tea consumers, expects will expand its international customer base.
Tealet began using the payment system Bitcoin on its website last week. Bitcoin is a decentralized, digital currency that is not controlled by any government or organization.
Tealet co-founder Elyse Petersen told me in an email that national currencies can threaten international business because of foreign currency exchange risk, while Bitcoin is a low-risk option to expand to foreign markets.
Payment processor Coinbase automatically converts payments to U.S. currency for transactions.