Merchants, corporations, and Fashion houses have decided to bet on crypto and innovation. Chipotle is the latest merchant to join this train as it now accepts crypto payments.
Chipotle Now Accepts Crypto With The Help Of Flexa
A leading restaurant chain renowned for its Mexican cuisine, Chipotle Mexican Grill (CMG), now accepts crypto payments for meals. Digital payments network Flexa revealed this in a blog post on Wednesday.
Flexa revealed that the partnership means customers can now purchase some of their favorite Mexican meals using a wide variety of crypto assets supported by Flexa, which currently numbers 98, including Bitcoin, Ether, and Dogecoin. Additionally, the option to pay in crypto will be available in all 2,975 plus Chipotle outlets in the US.
All customers need to access this service is to have a crypto wallet app that supports Flexa. Currently, it is only supported by Gemini and SPEDN. Then, to pay, customers need to open up their preferred app, tap on Chipotle, and scan to pay for their meal in seconds.
Furthermore, Flexa, to celebrate the new partnership, is offering customers a 10% discount on their first purchase at Chipotle using crypto. Notably, the discount is capped at $10.
Meanwhile, it is not Chipotle’s first foray into cryptocurrency and blockchain technology. In 2021, the restaurant chain gave out $100,000 in Bitcoin to celebrate National Burrito Day, and this year, it created a currency called Burrito Bucks on Roblox, which gamers can use on its Burrito Builder game.
Could The Trend Of Crypto Payment Adoption Push Crypto Prices Higher?
Over the last couple of years, businesses from different industries have opened their doors to accept crypto as payment. For example, in the food industry, we have seen names like Quiznos, Subway, Starbucks, and now Chipotle provide the option to customers.
Another industry showing increasing adoption is the fashion industry. Various luxury brands are opening their doors to crypto payments—the most recent fashion house to do so is Balenciaga, as reported by ZyCrypto in May.
As more and more retailers and brands start accepting crypto for payments, many believe it will drive the adoption of the asset class, which will, in turn, drive their value higher. Notably, Billionaire Tim Draper believes that this will be the case, especially with more women purchasing things in Bitcoin.