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Contxto – In Venezuela, Burger King wants its tech-savvy diners to have it their way and pay their Whoppers with cryptocurrencies. For that reason, it’s partnering up with Panama-based, Venezuelan-founded Cryptobuyer to accept payments in cryptos.
Consequently, Cryptobuyer will act as the payment gateway for Burger King’s clientele. This partnership’s first trial phase took place on December 30 in a shopping center in the Venezuelan capital of Caracas.
Following this experiment, the partnership is expected to reach more BK establishments in the year to come.
Related article: Cryptobuyer from Panama announces CryptoCard pilot in Venezuela
Whoppers and cryptos, why not?
Cryptobuyer, via its Cryptobuyer Pay point of sale system, will allow cashiers to charge hungry customers in six different cryptocurrencies. Moreover, the fast-food giant now accepts payments in Bitcoin (BTC), Ethereum (ETH), Binance (BNB), Dash, Tether (USDT), and Litecoin (LTC).
Of these, it was initially a regional director from Dash that offered some clues as to the future of this partnership.
According to Ernesto Contreras, Dash’s Business Development rep for Latin America, more BK restaurants will be accepting Dash via Cryptobuyer in 2020.
Cointelegraph verified these statements upon speaking with Cryptobuyer’s CEO, Jorge Farías. The executive confirmed that Cryptobuyer Pay will expand into an additional 40 BK establishments in Venezuela.
Farías also added that as of early 2020, Cryptobuyer will announce two new tokens users can access to complete payments with the startup’s affiliated merchants.
Venezuelans are hungry for crypto
As inflation eats away at Venezuela’s currency, the bolívar, the population is looking elsewhere for alternatives that safeguard the value of their money. As a result, there’s a rising interest in digital currencies.
And likewise, businesses (like BK) aim to appease this growing market by accepting cryptos.
So to connect consumers with cryptos and the businesses that accept them, a Venezuelan took matters into his own hands. In 2018, with the help of Dash, Juan Carlos Petit released an app known as CriptoLugares VE.
This application maps out the establishments that accept cryptos, so users can easily find them.
These efforts show how Venezuelans are going to great lengths stop their money from devaluing. And although that’s something anyone can relate to, Venezuela’s current situation has taken it to the next level.
Related article: 5 Venezuelan startups innovating crypto