A Burger King restaurant in Venezuela is now launching support for Bitcoin payments. Moreover, this is just the first of a whopping 40 Venezuelan Burger King stores that will soon support Bitcoin payments.
Burger King Venezuela launches Bitcoin payments
This development comes as a part of a new partnership for cryptocurrency payments at the fast-food chain. A tweet went on to confirm that a Burger King in the Sambil area of Caracas recently began accepting Bitcoin.
Furthermore, this Burger King will not only accept Bitcoin. Rather, the store will also accept Ethereum, Litecoin, Dash, Binance Coin and the stablecoin Tether. During 2020, this functionality will reportedly expand to 40 locations in the Latin American nation.
Moreover, this recent crypto integration in Venezuelan Burger King restaurants is a part of a partnership with Cryptobuyer. Cryptobuyer is a Panaman cryptocurrency merchant gateway firm, which also operates a number of Bitcoin ATMs.
Additionally, Cryptobuyer also offers conversions of cryptocurrency funds for companies, and then pays out the fiat equivalent to them. Now, however, Cryptobuyer is bringing its cryptocurrency expertise to the Venezuelan arm of Burger King.
40 more locations will follow in 2020
“We are pleased to announce our commercial alliance with @BurgerKingVE,” Cryptobuyer states in the recent tweet. The tweet also states that starting today, customers will be able to ”eat like a king” and pay in Bitcoin, Dash, Litecoin, Ethereum, Binance Coin, and Tether.
Seeing as Burger King Venezuela will roll out this functionality over the coming year, the launch should be relatively painless. However, Burger King Venezuela has not yet gone on to publicly acknowledge this foray into cryptocurrency payments.
It remains to be seen whether this cryptocurrency project will, in fact, lead to real adoption in Venezuela. This is not the first time that Burger King launches crypto or Bitcoin initiatives. It has previously done so both in Europe and Russia – but these have been short-lived.
Nevertheless, Venezuela is somewhat of a different story. The country’s economic turmoil has made its citizens move increasingly towards crypto. With that said, however, the country’s own ”cryptocurrency”, the Petro, has been under substantial scrutiny by the global crypto community.
As such, it is perhaps not surprising that Venezuelans are turning towards other cryptos. Bitcoin, Ethereum, Dash and other high-profile cryptocurrencies have been well-received by Venezuelans during the last few years. Consequently, it remains to be seen whether this Burger King imitative will take off or not.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.