Pizza Hut Accepts Crypto Payment in Venezuela

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

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Pizza Hut, the worldwide fast-food chain partnered with a crypto platform to accepts payment for their products in Bitcoin (and some other cryptocoins). Now, before you get too excited, run outside and scream “yes, worldwide adoption is here,” the country where it is doing this… is Venezuela though. Then again, it is a start of course.

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South America

Digital currencies continue to attract more and more aficionados in South America. Given that the continent has a history of inflation and debt defaults, this is to some extent not too surprising. One of the countries worst hit by hyperinflation in recent years is Venezuela, where fast food chain Pizza Hut has just announced that it will now accept cryptocurrency payments.

The Pizza vendors partnered with CryptoBuyer, a Panamanian start-up specializing in crypto payments, which have also been placing many Bitcoin ATMs allover the continent.

In practice, Pizza Hut customers will be able to pay for their pizzas in Bitcoin (BTC), Litecoin (LTC), Dash (DASH), Binance Coin (BNB), Binance USD (BUSD), Ether (ETH), Tether (USDT), Dai (DAI) and XPT (the native token of the CryptoBuyer platform). With some 25 million inhabitants who are all keen on digital payments and a growing crypto market in South America, could be an interesting venture.

CryptoBuyer, for its part, is not its first attempt. Indeed, the company has already set up crypto payments for the Burger King chain and the intercontinental hotel in Tamanaco.

Petro

The Venezuelan government continues to push for some strange crypto experiments itself as well. Back in 2017, President Nicolas Maduro announced his government would be launching the Petro crypto, which was supposed to be a digital coin backed by the country’s oil and mineral reserves. But until now, that is still a distant dream. At least his countrymen can soon buy some pizza with their crypto.

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