Pizza Hut restaurants in Venezuela now accept several digital assets as payment including Bitcoin. The use of cryptocurrency as payment was made possible via the platform Cryptobuyer.
Cryptobuyer was founded by Jorge Frias in January 2015. The company is a fully working ecosystem based on digital assets focused on providing real solutions for the daily use of Bitcoin and Cryptocurrencies. Also, it was the first company in the world to install a Bitcoin ATM in a commercial bank. Today, it operates thousands of cryptocurrency points of sale in Latin America, including large chain stores, restaurants, and supermarkets.
In an announcement on Friday, Cryptobuyer stated :
“From today, you can share with your family and pay with cryptocurrencies … in any of the Pizza Hut restaurants in Venezuela.”
Cryptocurrencies that will be accepted as payment include BTC (bitcoin), ETH (ethereum), Dash, LTC( litecoin), Binance coin or BNB, USDT (tether), DAI, and Cryptobuyer’s native token, XPT. Pizza Hut restaurants are located in Caracas, Maracay, Maracaibo, and Barquisimeto. It has three other locations in Caracas — in El Sambil, El Recreo, Líder, Caurimare, and Las Mercedes.
Pizza Hut has followed suit several companies in the country like Burger King, Intercontinental Hotel, and Traki in accepting bitcoin as payment.
With the integration of Cyptobuyer Pay into Mega Soft’s “Merchant Server” platform, it is now possible for Venezuelan’s to pay for goods and services using cryptocurrencies in a wide range of stores in the country. Merchants can choose to either automatically liquidate their cryptocurrency payments in fiat currencies or hold them in their accounts.
But this will not be the first time that we’ve heard of a story like this one. Remember the story of Laszlo Hanyecz? On May 22, 2010, he purchased two pizzas from Papa John’s Pizza for 10,000 BTC. Wow! That’s a lot, right? But he made history for doing that. Now, he is known as the first person to use bitcoin in a commercial transaction. Thanks to Papa John’s Pizza for making it possible.
Recently, we have seen substantial growth in the number of institutions that accept cryptocurrency as payment. One of the factors was the fostering of a cashless society due to COVID 19. But the other advantages that come with the technology is yet to be appreciated.