In brief
- Pizza Hut restaurants in Venezuela now support cryptocurrency payments.
- This is a result of a partnership between Pizza Hut and crypto payments processor Cryptobuyer.
- The firm’s point-of-sale solution supports Bitcoin, Binance Coin, Dash, DAI, Ethereum, Litecoin, Tether, and XPT.
The Venezuelan branch of major American restaurant chain Pizza Hut has partnered with crypto-focused firm Cryptobuyer to offer its customers the ability to pay with Bitcoin and other cryptocurrencies.
“We come with good news! We continue to grow and work to expand your payment options in Cryptocurrencies. We are happy to announce our most recent alliance with Pizza Hut Venezuela. From today you can share with your family and pay with Bitcoin, XPT, Dash, CryptobuyerPay,” Cryptobuyer announced on November 27.
Currently, the firm’s point-of-sale (POS) solution—Cryptobuyer Pay—supports payments using Bitcoin, Binance Coin, Dash, DAI, Ethereum, Litecoin, Tether, and XPT (Cryptobuyer’s own token).
“Today the use of technology has become so vital for people who have devices in their daily lives. It is important that we accompany them, young people, contemporary adults or people with a knowledge of technology,” Richard ElKhouri, head of Pizza Hut Venezuela, told local outlet El Axioma.
“Pizza Hut today cannot be detached from these technological advances and all those incorporations of new systems of approaches or daily life,” he added.
Founded in 2015 and focused on Latin America, Cryptobuyer provides services such as digital currency payment solutions, crypto ATMs and POS terminals. Reportedly over 40,000 businesses in Latin America are already using the firm’s services, including local branches of Burger King, Samsung, and Intercontinental Hotels as well as Traki—the largest retail chain in Venezuela.
As Decrypt reported in May, Cryptobuyer has also announced a new deal with traditional payments firm Megasoft to bring its crypto POS solutions to over 20,000 merchants in Venezuela.
However, an increasing number of cryptocurrency-focused firms—such as Bitcoin wallet service provider Xapo and crypto exchange Paxful—are folding their operations in Venezuela lately. Many of those companies are citing the economic sanctions imposed by the US government as the main reason for turning their back on the country.