Chipotle now accepts bitcoin payments using Flexa
Because the Mexican-style fast-food market unites with Flexa to facilitate crypto transactions, over 3,000 Chipotle stores throughout the United States will welcome 98 cryptocurrencies.
Chipotle, the iconic Mexican quick food producer, is now taking bitcoin payments at all of its 2,950 locations in the United States, provided by digital payment service Flexa.
Flexa revealed the agreement on June 1st, and Chipotle will handle all 98 cryptocurrencies supported by Flexa, notably Bitcoin (BTC), Ethereum (ETH), and seven dollar-pegged stablecoins such as USD Coin (USDC). Yet, there is no mention of the news on Chipotle’s webpage.
The food service behemoth joins other significant firms such as Regal Theaters and Bancoagrcola, El Salvador’s biggest financial organization, as Flexa partners with the institution to facilitate both consumer and commercial financial transactions for its clients.
Chipotle has previously dabbled in the cryptocurrency world. It threw away $100,000 worth of assets together with free tacos in April 2021 to commemorate National Burrito Day, claiming to be the first U.S. culinary business to do so.
For the “cryptocurrency” promotion, Chipotle teamed up with erstwhile Ripple CTO Stefcryptocurrencies and Thomas to create a game in which participants could win a tortilla or up to $25,000 in Bitcoin by guessing a password.
The game mocked Thomas’ loss of over 7,000 BTC after missing the passcode to his cryptocurrency wallet, which was valued at over $208 million at the time.
Several fast-food companies have looked into or expressed an interest in cryptocurrencies, and universe uses for their trademarks. In November 2021, Burger King teamed up with brokerage firm Robinhood to give out free Dogecoin (DOGE) BTC and ETH with food orders.
McDonald’s, which is notorious for mocking cryptocurrency Twitter, submitted a slew of trademark registrations in February, notably ones for “a digital eatery incorporating physical and virtual products” in the Metaverse and “running a digital eatery with delivery service.”
Although market turmoil, crypto acceptance in the United States remains robust, and retailers have shown a willingness to integrate payment services to capitalize on its rising importance.
Only 4% of retailers presently take payment transactions, according to a Crypto.com worldwide survey issued in February, almost 60% took part in allowing payment transactions relatively soon.
While merchant optimism was strong overall, just about 25% of hospitality sector participants were enthusiastic about payment processing acceptance.
