Key Takeaways:
- Chipotle partnered with Flexa to adopt cryptocurrency.
- Fast-food restaurants adopting cryptocurrencies are increasing remarkably.
LAGOS (CoinChapter.com) — Chipotle an American-owned fast-food chain company has become the latest multinational organization to accept Dogecoin and Bitcoin.
In detail, Chipotle undeterred by the recent bearish trend witnessed in the cryptocurrency industry announced its decision to now accept cryptocurrency payments.
The Mexican-style fast-food restaurant chain tapped Flexa, a digital payments platform to begin accepting cryptocurrencies. As a result of the collaboration, Chipotle will now accept all the 98 cryptocurrencies Flexa presently supports.
Curt Garner, Chipotle’s chief technology officer in a statement expressed happiness with the offering of digital currencies. He explained that the move arose due to the fast-food restaurant’s attempt to satisfy customers’ demands and desires.
“We are constantly exploring innovation that will enhance our guest experience, and that includes now accepting digital currency payments with Flexa in Chipotle’s US restaurants.”
Garner said.
Interestingly, this is not Chipotle first engagement with cryptocurrencies. In April 2021, the fast-food restaurant gave away $100,000 worth of Bitcoin to celebrate National Burrito Day.
The event which reportedly made Chipotle the first U.S. restaurant brand to offer a crypto giveaway recorded major success. Ex-Ripple CTO, Stefan Thomas, oversaw the event where players guessed a code to win a burrito or some Bitcoin.
List Of Fast-Food Restaurants Adopting Cryptocurrencies Growing
Meanwhile, Chipotle joins a long list of restaurants that are currently accepting Bitcoin, Dogecoin, and other cryptocurrencies.
Burger King recently partnered with Robinhood to give away free cryptocurrency to its customers. According to the announcement, Burger King customers in the United States who spend over $5 will stand a chance to win free crypto.
Pizza Hut last year also started accepting cryptocurrency as a form of payment in Venezuela. According to the franchise CEO in Venezuela, Richard Elkhouri, Pizza Hut was combining innovative technology with good food.
Starbucks also allows its reward members to turn cryptocurrencies into cash balances on the Starbucks app. Similarly, like Chipotle Starbucks originally partnered with Flexa, but now uses another third-party app.
Starbucks went further to announce plans to create a digital community Web3 platform. It is also planning to issue and release non-fungible tokens (NFTs). Other fast-food chains exploring blockchain and digital currency include KFC, Chick-fil-A, Subway, among others.
Dogecoin, Bitcoin Price
Meanwhile, Chipotle announcement seems to have had little to no impact on the price of the leading cryptocurrency. Bitcoin at the time of publication was trading around $30,000, up 1% in the last 24 hours.
The leading asset market cap has declined to around $575 billion from over $600 billion in the last 24 hours. Bitcoin currently has a 24-hour trading volume of $22.4 billion with a circulating supply of 19 million BTC coins, according to data from Coingecko.
On the other hand, Dogecoin’s price floats around $0.0819, up 5% in the last seven days. Over the past month, the memecoin has shed 38% in value. It currently has a market cap of more than $10 billion with a 24-hour trading volume of $340 million.
