Burger King Venezuela starts accepting cryptocurrencies via Cryptobuyer partnership

The Venezuelan arm of the global fast-food giant Burger King has started accepting a number of cryptocurrencies via a new partnership with Cryptobuyer, a Panama-based cryptocurrency gateway provider and bitcoin ATM operator, Cointelegraph reported.

A Burger King branch located in the Sambil area of Caracas now accepts bitcoin (BTC), Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), as well as stablecoin Tether (USDT).

In a press release dated Dec. 30, leading cryptocurrency Dash announced its partnership with Cryptobuyer to serve Burger King Venezuela. Cryptobuyer’s point of sale system has been launched as a pilot at the Sambil store.

If successful, Burger King and Cryptobuyer aim to expand the crypto payment option to all 40 locations across the country this year.

“Venezuela portraits a mix of situations that make it a perfect ground to deploy real-world cryptocurrency solutions, such as hyperinflation, cash shortages, deteriorated banking and communication infrastructure. The factors,in conjunction with the government’s initiative to use cryptocurrency as a payment method, will push use and adoption of these cutting-edge technologies, and we are really proud to lead this push,” Cryptobuyer CEO Jorge Farias.

Faced with deep economic crisis, Venezuelan President Nicolas Maduro has also embraced cryptocurrencies and launched the controversial state-backed cryptocurrency “petro” in 2018. He has been pushing banking and other sectors to start accepting the crypto.

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