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Bitcoin (BTC), Ether (ETH), Litecoin (LTC), other cryptos now accepted in Pizza Hut stores in Venezuela

Customers can now use crypto to pay for orders in all Pizza Hut locations in Venezuela.

Pizza Hut / Image by: Wikimedia Commons

Mon, 30 Nov 2020, 08:41 am UTC

Pizza Hut Venezuela is now accepting cryptocurrencies, such as Bitcoin (BTC) and Litecoin (LTC), as payments for ordered food and drinks. The U.S. pizza chain joins Burger King, Intercontinental Hotel, Traki, and other established that accept crypto payments via the payment platform Cryptobuyer.

Cryptobuyer announced via a tweet on November 27 that all Pizza Hut stores in Venezuela will now be accepting crypto as a form of payment, Cointelegraph reported. The payment platform has partnered with Venezuelan local payments processor Mega Soft allowing more than 20,000 businesses and shops to accept digital currencies as payment.

“From today, you can share with your family and pay with cryptocurrencies … in any of the Pizza Hut restaurants in Venezuela,” Cryptobuyer announced, according to Bitcoin.com.

Pizza Hut’s partnership with Cryptobuyer now allows it to process a broad range of cryptocurrencies from customers. These include Bitcoin (BTC), Ethereum (ETH), DASH, Litecoin (LTC), Binance Coin (BNB), Tether (USDT), DAI, and XPT, Cryptobuyer’s native token.

Pizza Hut has opened up restaurants in Venezuela such as Barquisimeto, Caracas, Maracaibo, and Maracay. In the nation’s capital, Caracas, the pizza chain’s outlets are located in Caurimare, El Recreo, El Sambil, Lider, and las Mercedes.

The pizza chain said that it cannot distance itself from technological advances in finance such as cryptocurrency. “Pizza Hut nowadays cannot be detached from these technological advances and all those incorporating new approaches for daily necessities,” Pizza Hut General Director for Venezuela Richard ElKhouri explained in an interview with local news outlet ElAxioma. “It is important that we accommodate young people, modern adults, and people technologically knowledgeable.”

Cryptobuyer said that Mega Soft’s Merchant Server platform has the capability to accept over 100 cryptocurrencies thanks to the firm’s alliance with Liquid, a Japanese crypto exchange. Mega Soft is one of the largest payment platforms in the country processing over 18 million transactions monthly.

Venezuela has the third-highest cryptocurrency usage in the world as people turn to digital currencies to mitigate the effects of the devaluation of the bolivar, the country’s currency. “Venezuela is suffering through one of the worst economic crises in modern history, with its national currency, the bolivar, becoming practically worthless,” Chainalysis wrote. “Under these circumstances, cryptocurrency has taken on an important role in Venezuela’s economy.”

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