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In the early days of Bitcoin, critics would often question the utility of the crypto by commenting that one can’t buy a coffee with BTC. But those days are gone as caffeine addicts can now actually use Bitcoin to pay for their drinks at a popular coffee chain in Gibraltar.
Gibraltar, the British Overseas Territory in the Mediterranean, has always been known for its crypto-friendly stance and has lured a number of crypto firms to its shores. The local outlet of the popular coffee chain Costa Coffee has announced that it is now accepting Bitcoin payments over Lightning making it possible for the crypto holders living in or visiting the territory to pay for their drinks using BTC, according to Cointelegraph.
And it’s not just Costa Coffee that is accepting Bitcoin payments in Gibraltar these days. In fact, major retailers located in the territory such as Hotel Chocolat, Card Factory, and the Gibraltar Baker are taking advantage of Bitcoin’s Lightning Network to do the same.
Sandpiper (Gibraltar) Holdings Limited has entered into a partnership with the Isle of Man-based Bitcoin exchange CoinCorner to enable their stores to accept BTC payments. Sandpiper manages the retail franchises of popular chains in the area including Costa Coffee, Hotel Chocolat, Card Factory, and The Gibraltar Bakery, according to Mint.
Sandpiper GI managing director Neil Walker said that using a Lightning-enabled card is no different from using a contactless credit card. Aside from last transaction processing, BTC payments in the Lightning Network charge merchants less compared to Visa or Mastercard transactions.
‘It is just as quick you can tap and pay contactless credit cards, you can tap and pay lightning, scan a QR code,” he said. “And whilst I haven't timed it, I reckon it's almost exactly the same speed.”
Customers can either scan a QR or use an NFC-enable Bitcoin Lighting card such as CoinCorner’s Bold Card, the most popular payment of choice in the territory. “Bolt Card has been a driving factor for Bitcoin adoption,” CoinCorner head of marketing Molly Spiers said.
Costa Coffee and Hotel Chocolat are not exactly the first establishments in Gibraltar to accept BTC payments. For instance, Essardas Luxury has been accepting Bitcoin since last year while smaller shops something accepts crypto and stablecoin payments upon request.
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