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Bitcoin, Ether, and other crypto payments now accepted by Chipotle

The fast casual restaurant change accepts 98 cryptocurrencies including Bitcoin (BTC), Ether (ETH), and Solana (SOL).

Image by: Wikimedia Commons

Mon, 06 Jun 2022, 06:16 am UTC

Crypto adoption continues to grow in the U.S. with more businesses starting to accept payments in digital currencies for goods and services. The latest to join the trend is the fast food chain Chipotle Mexican Grill, which recently announced that it has started accepting payments in crypto such as Bitcoin (BTC) and Ethereum (ETH).

To enable the fast casual restaurant chain to accept crypto, Chipotle partnered with digital payments platform Flexa, according to Coindesk. The arrangement allows customers to Flexa to pay their orders using digital currencies.

The Flexa platform supports 98 cryptocurrencies including Bitcoin (BTC), Ether (ETH), and Solana (SOL). However, customer will still need to download the SPEDN or Gemini app to use Flexa for in-store payments using crypto.

Chipotle is sweetening the deal for crypto-owning customers to encourage them to use the crypto payment option. The chain is giving a 10 percent discount to customers who opt to pay with any digital currency via a Flexa-enabled app.

The announcement of the crypto payment option isn’t exactly Chipotle’s first foray into crypto. To celebrate the National Burrito Day last year, the company gave away $100,000 in Bitcoin and $100,000 in free burritos.

The restaurant chain also launched its in-experience currency on Roblox called the Burrito Bucks along would its Burrito Builder game. The Burrito Bucks can be exchange for a free entrée code at participating Chipotle outlets.

“Chipotle benefits from reaching customers where they are through the new payment methods they want to use,” Flexa co-founder Trevor Filter highlighted the benefits of crypto payments for both businesses and customers. “And, at the same time, Chipotle’s customers benefit from greater payment flexibility, faster checkout and a more seamless experience at the fast casual restaurants they already love.”

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