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Venezuela crypto adoption continues with Pizza Hut integration

By Inkarias - 2020-11-29

For several years, cryptocurrencies have been found more and more often integrated into existing payment solutions and companies. Even in 2020, the famous legend of an old transaction of 10,000 Bitcoin for 1 pizza is still present. The adoption of cryptocurrencies has been particularly felt in South America and more mainly in Venezuela, where the local currency has suffered high inflation and where cryptocurrencies have made it possible for many to support themselves. After the significant adoption of Dash within this continent among citizens and some large companies, the well-known company Pizza Hut in turn announced that it accepts a broad range of cryptocurrencies, including bitcoin, via the payment platform Cryptobuyer. Pizza Hut joins Burger King, Intercontinental Hotel, Traki, and several other major stores in Venezuela that accept bitcoin.

Pizza Hut and Cryptobuyer 

This integration will target several places in the country where Pizza Hut restaurants are located such as in Caracas, Maracay, Maracaibo, and Barquisimeto. Previously in June, Cryptobuyer announced that Venezuelans would be able to pay for goods and services with cryptocurrencies in more than 20,000 stores throughout the country. With the addition of Cryptobuyer and Mega Soft, a large payment processor in Venezuela, with an average of 18 million transactions processed per month, citizens will be able to fully use financial services at lower costs.

Cryptobuyer shared that:

stores using Merchant Server have the ability to accept over 100 cryptocurrencies due to the company’s alliance with the Japanese crypto exchange Liquid. Merchants can choose to either automatically settle their cryptocurrency payments in fiat currencies or keep the coins stored in their accounts. Among stores that are currently using Cryptobuyer Pay are Burger King, Intercontinental Hotel, and Traki, the largest department store chain in Venezuela.