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Chipotle Included Crypto As Viable Payment Medium Via Flexa Partnership

| 08-Th6-2022

The well-known Mexico-based fast-food chain Chipotle has reportedly added crypto to its list of viable payment measures via digital payment provider Flexa, across more than 2,950 restaurants in America. 

Specifically, Flexa reportedly disclosed details of the new alliance on June 1st, which will enable the acceptance of every 98 crypto coins Flexa providing supporting features to at the moment, including Bitcoin (BTC), Ether (ETH) and seven U.S. dollar-pegged stablecoins like USD Coin (USDC). 

The fast-food heavyweight is reportedly the most recent entity to team up with Flexa, following the footsteps of numerous other major establishment, nominally cinema operator Regal Theaters and Bancoagrícola, El Salvador’s largest financial institution, where Flexa enables both retail and merchant Bitcoin transactions for the bank’s customers.

Chipotle has reportedly had a brie testing phase with cryptocurrencies previously. In April last year, to celebrate National Burrito Day, it carried out a give-away of $100,000 equivalent in Bitcoin together with free burritos, boasting its unprecedented position as a US-based restaurant brand to offer a crypto giveaway.

To commnce the so-called “chiptocurrency” giveaway, Chipotle reportedly teamed up with former Ripple chief technology officer Stefan Thomas, developing a game mandating players to guess a code possibly winning either a burrito or a maximum of $25,000 equivalent in Bitcoin.

The game reportedly functioned as a parody of Thomas’ experience of suffering from a more than 7,000 BTC loss caused by not remembering the password for his crypto wallet, which would have the equivalent value of more than $208 million according to present pricing. 

Different fast food franchises have reportedly also tipped its toe in, or expressed a level of interest towards crypto and metaverse applications for their brands. Burger King collaborated with trading platform Robinhood in Nov last year and gave away free Dogecoin (DOGE) BTC and ETH with meal purchases.

 

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