Popular Mexican-style fast-food restaurant chain Chipotle will now accept cryptocurrency payments through digital payments firm Flexa, which supports around 98 currencies including Bitcoin and Ethereum.
The cryptocurrencies that Flexa supports include leading assets such as Bitcoin ($BTC) and Ethereum ($ETH), as well as meme-inspired cryptocurrencies like Shiba Inu ($SHIB) and Dogecoin ($DOGE) and several stablecoins tied to the value of the U.S. dollar and others.
Cryptocurrency payments can be made at chipotle using Flexa-enabled applications like Gemini and SPEDN. According to Flexa’s announcement, every Chipotle restaurant in the United States now accepts crypto payments.
The move sees Chipotle join a long list of restaurants accepting cryptocurrency payments. Subway was one of the first to do so, starting as early as 2013.
In Venezuela, Pizza Hut started accepting crypto in 2020, while Starbucks allowed reward members to turn cryptocurrencies into cash balances on the Starbucks app using a third-party app.
Flexa notably balances its carbon emissions through the use of “high-quality, verified carbon offsets to maintain a completely carbon-negative network.” Thanks to the firm, GameStop started accepting crypto payments late last year.
Flexa guarantees cryptocurrency transactions go through for real-world applications by leveraging its Amp ($AMP) token to power instant and secure transactions.
Token holders “insure the value of any transfer” while it hasn’t yet been confirmed on the blockchain, allowing actions dependent on these transactions to be processed. If the Bitcoin network is congested at the time of payment, for example, Flexa ensures the payment goes through leveraging AMP as collateral.
AMP token holders are then rewarded for their funds being put at risk. Notably, in May of this year, Flexa helped a major restaurant and convenience store chain in the U.S. started accepting DOGE and other cryptocurrencies as a payment method as well.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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