Who hasn’t heard about the infamous pizza purchase with Bitcoin? This story is slightly different but it also revolves around cryptocurrencies and fast food.
Based on reports, Burger King, the mogul fast-food chain, is now accepting Bitcoin payments in Venezuela. But not only. The chain is also happy to sell you burgers and fries in exchange for Tether, Binance Coin, Litecoin, and DASH. The payments will be enabled in a single Burger King branch in the Sambil area of Caracas, the capital of Venezuela.
And this initiative will expand soon enough. In 2020, 40 locations will also accept the basket of coins. According to a Dash blog’s post, the platform powering the payments for this cryptocurrency is Cryptobuyer. Ryan Taylor, Dash Core Group CEO, emphasizes, “Dash usage continues growing at a rapid rate in Venezuela, as it provides an alternative that is a more reliable payment method and store of value.”
To that end, it is noteworthy that in 2019 DASH made a foray into Latin America. Particularly, the company aims to improve crypto adoption in the region.
CZ likes it
While DASH has expressed content over the initiative, Binance CEO Changpeng Zhao tweeted a succinct “Let that sink in!”
$BNB now accepted at Burger King 👑
Let that sink in! https://t.co/FeAN7g4lyq
— CZ Binance (@cz_binance) January 4, 2020
Curiously, Cryptobuyer, the company that Dash mentioned, has replied to the tweet. In it, it implied that the new initiative will boost the adoption of cryptocurrencies in Latin America.
— Cryptobuyer (@cryptobuyer) January 4, 2020
Admittedly, Venezuela, located in Latin America, is a good place for crypto to thrive. The country is marred with hyperinflation, which is why many Venezuelans are finding solace in BTC. However, it is too soon to judge whether Burger King’s initiative will be fully successful.
After all, this is not the first time Burger King is trying its hand at cryptocurrencies. Truth to be told, those undertakings did not work out too well. In the Netherlands, for example, the launch of crypto payments was terminated shortly after.
Then there is the “Whoppercoin” case in Russia. In 2019, the country’s prosecutor summoned the company’s representatives, reminding them that cryptocurrencies are illegal in the country.
Would you like your fast-food chain to start accepting Bitcoin or altcoins? Let us know.