We recently discovered that cryptocurrencies were able to penetrate the sports industry. Many applications were designed which would count the calories burnt for the day and then reward them with cryptocurrencies. Similarly, cryptocurrency has now set its vision in the food industry. Growing popularity of cryptocurrency owning to the technological advancement, the younger generation are going gaga over the concept of cryptocurrency. Most of the investors today are either millennials or gen-z. Many food hubs have already started accepting cryptocurrencies as a payment method. It is really interesting to know that, the very first time when cryptocurrency was used to buy a commodity was in 2010 when a miner used 10,000 bitcoins to buy a Papa John’s pizza. So, it would be safe to say that, cryptocurrency started its journey in the food industry.
Chipotle is now accepting bitcoins and other cryptocurrencies.
The tweet reveals us that Chipotle a famous fast-food brand in US is going to accept bitcoins and other cryptocurrencies as a part of payment mode, exclusively through Flexa.
Chipotle and Flexa’s partnership:
Chipotle, is the fast-food giant, which recently partnered with Flexa to accept bitcoins, Ethereum, dogecoins and many more. They are also accepting stablecoins which are pegged to US Dollars such as USDC. As the partnership was made official, Chipotle will be accepting 92 cryptocurrencies prevalent in US, through the digital payment provider Flexa at all of its over 2,950 branches in the US.
Previously, Chipotle also experimented with cryptocurrencies, when, they celebrated National Burrito Day, and gave away $100,000 worth bitcoins with free burritos. This giveaway was claimed to be first of its kind, for a US restaurant brand to offer crypto. The giveaway was also named as “Chitpocurrency.”
Other food hubs accepting cryptocurrencies.
A popular food chain called McDonald’s, also went ahead and filed multiple trademark applications in February which include the plan for a virtual restaurant and virtual goods in a metaverse. Burger King also happened to partner with Robinhood and gave away free Dogecoins, Bitcoin and Ethereum with meal purchases.
As the hold of cryptocurrency is spreading across industries in the market, it is truly a moment of revolution for the financial industry. A payment option in crypto will not only have the restaurants and companies trade in crypto, but also encourage the younger generation to invest their time understanding crypto and its market and take active part in it, since, it is predicted to revolutionize the financial sector.