Monday, November 28, 2022

Chipotle Restaurants Add Crypto Payments Via Flexa

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Chipotle restaurants add crypto payment options via Flexa and now 3000 of them across the US will accept 98 cryptocurrencies as we can see more today in our latest cryptocurrency news.

The popular Mexican fast-food chain is accepting crypto payments through digital payment provider Flexa in up to 3000 US-based restaurants. Flexa announced the partnership which will see Chipotle accepting 98 cryptocurrencies that Flexa supports such as Ethereum, BTC, and USD Coin. The Chipotle restaurant’s website doesn’t contain any information about this announcement. The fast-food giant, Is the latest Flexa partner that joined other larger businesses like Regal Theaters and Bancoagricola which is the biggest financial institution where Flexa enabled both retail and merchant BTC transactions for the customers of the bank. Chipotle experimented with crypto in the past and back in 2021, it celebrated the National Burrito Day by giving away $100,000 worth of BTC alogn with free food, claiming that it was the first restaurant brand to offer such a giveaway.

For the “chiptocurrency” giveaway, Chipotle partnered with Stefan Thomas from Ripple and created a game where players guessed a code possibly winning a burrito or a $25,000 worth of BTC. The game made fun of Thomas’ experience of losing over 7000 BTC due to forgetting his password for the wallet which now could be worth over $208 million. Other fast-food names also showed interest in crypto like Burger king which partnered with Robinhood to give away free DOGE, BTC, and ETH, and meals.

McDonald’s is known for making fun of crypto Twitter but it did file multiple trademark applications in February with more plans for a virtual restaurant featuring actual and virtual goods in the Metaverse and even open a virtual restaurant that features home delivery. With the crypto adoption in the US remaining high, merchants expressed their desires to implement payment solutions and catch the growing interest. A survey shwoed that 4% of merchants accept crypto payments but 60% of them responded with an interest in accepting crypto payments in a year. The enthusiasm from merchants was high among 25% of the hospitality industry respondents that were keen on crypto payment adoption.

flexa

As recently reported, Flexa Network announced that it will support Shiba Inu’s native cryptocurrency-SHIB and as such, the users will be able to pay with SHIB through a merchant network of more than 40,000. Flexa is a payments network that partnered with Gemini as one of the leading US-based crypto exchanges back in 2019.

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