Some news on Burger King Venezuela welcoming cryptocurrencies as new payment methods go up to the surface. Read more on the new crypto news now.
A new partnership is forming, as Burger King in Venezuela starts accepting Bitcoin as a payment method.
On the 30th of December, a Burger King restaurant in the Sambil area of Caracas said to be accepting BTC, altcoins Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), and Tether (USDT).
More than 40 locations will follow this path in 2020, as commented by Dash executives on a blog post.
The partnership is based around Burger King and a merchant gateway startup based in Panama, called Cryptobuyer. The company runs Bitcoin ATMs and now it runs crypto funds for businesses.
A company tweet states:
“We are pleased to announce our commercial alliance with @BurgerKingVE.”
Venezuela has some massive economic issues which make the country focus on cryptocurrencies implementation. Government showed remorse towards payment methods.
Cointelegraph reported that Petro, the state-backed cryptocurrency is currently accepted for services like passports.
It is widely known that previous Burger King experiments with BTC have not been really successful. There have been similar initiatives in Europe and Russia but they disappeared, as soon as they launched.
The Venezuela Burger King didn’t go all the way to acknowledging its crypto plans. Venezuelans are best known for using coins like Dash for quite some time. Merchants use cryptocurrencies but transactions are still on the low.