Chipotle, the prominent fast-food chain based in Mexico, is at the moment embracing payments in cryptocurrency via Flexa (a provider of digital payments) at the entirety of its more than 2,950 restaurants based in the United States. Flexa declared the respective collaboration on Wednesday due to which Chipotle will witness the entirety of the 98 cryptocurrencies supported by Flexa at present, taking into account Bitcoin (BTC), Ethereum (ETH), and 7 stablecoins – which are pegged into the U.S. dollar – such as USDC (USD Coin). The official website of Chipotle does not comprise any information dealing with the very declaration.
Chipotle Adds Another Big Name in Crypto Adopters
A great name in the fast-food sector is now the new collaborator of Flexa shaking hands with the rest of the big businesses like Bancoagrícola (the biggest financial organization in El Salvador) and Regal Theaters (a cinema operator), where Flexa is permitting both the merchant and retail Bitcoin transfers for the bank consumers. A brief experiment has been carried out by Chipotle with cryptocurrencies formerly. In April of the recent year, for the celebration of National Burrito Day, the company donated up to $100,000 in Bitcoin as well as free burritos, claiming that the firm was the initial restaurant brand within the United States that is offering a giveaway in crypto.
For the provision of the very crypto giveaway, Chipotle collaborated with Stefan Thomas (the former chief technology officer at Ripple), developing a game in which the players are to predict a code to probably win a burrito or nearly $25,000 in Bitcoin. The very game was a parody of Thomas’ incident of losing more than $7,000 Bitcoin because of being unable to remember his crypto wallet’s password which there would be up to $208M at the current time.
Crypto Trend Mounts with More Adoptions
Several other giants in the fast-food space have also attempted to move ahead to delve deep into the fields of the Metaverse as well as cryptocurrency to leverage the rising sectors. In this respect, Burger King took Robinhood (a trading venue) to be its collaborator in 2021’s November, and Ethereum, Bitcoin, as well as DOGE (Dogecoin) were given away by it to the consumers in return for purchasing the meal.
Another renowned brand, McDonald’s, submitted several trademark applications this February taking into account its plans to open a virtual restaurant presenting both virtual and real products within the world of the Metaverse that would additionally offer the facility of home delivery.
As the adoption of cryptocurrency is rising day by day throughout the United States notwithstanding the turbulence experienced by the market, merchants have spoken their sentiments to utilize the payment solutions and grasp the escalating interest in the very sector.
A survey was released on the behalf of crypto.com over the merchants in February, pointing out that just four percent of the participants were in advance permitting payments in crypto, however approximately 60% of them expressed their interest in embracing crypto by the next year. Even though the passion of the merchants was generally high, just 25% of the respondents were determined on the adoption of cryptocurrency.
