- Cryptocurrency will be accepted through Flexa, a digital payments platform.
- The launch is across stores only in the US.
- In 2021, Chipotle partnered with Roblox to open a virtual restaurant.
Leading Fast Food Chain Chipotle is the latest addition in the list of companies embracing cryptocurrency for payments. Chipotle announced that it would accept cryptocurrency through Flexa-a digital payments platform.
“Now you can spend your bitcoin and other digital currencies from any Flexa-enabled app for burritos, bowls, and more at any Chipotle restaurant in the United States,” Flexa’s blog post announcing the move reads. The option rolled out only for the US will be made available in all of the 2,975+ Chipotle restaurants in the country.
To pay through crypto, customers are requested to open a Flexa-enabled app and tap the Chipotle option. Customers can either download Gemini or the SPEDN app, both of which store digital assets. To incentivize more people to use virtual currency, Flexa is also offering 10% off customer’s next Chipotle order when they pay using any digital currency in a Flexa-enabled app.
The newly launched support for digital currency payments is not however Chipotle’s first try at digital asset offerings. The Mexican fast-food giant grabbed headlines in late 2021 by being the very first restaurant brand to open a virtual restaurant on Roblox for Halloween. As part of this,10000 users received free burritos online, which they redeemed for an edible one in physical stores.
With this announcement, Chipotle now joins a long list of restaurants that currently accept cryptocurrency. The American sandwich store Subway led the way by accepting Bitcoin for payment as early as 2013. Coffee giant Starbucks allows its reward members to turn cryptocurrency cash balances on the Starbucks app. KFC Canada in 2018 allowed Bitcoin as payment for a short period.
Fast Food Giants are now constantly trying to create an engaging virtual experience for their customers using digital assets. Taco Bell, KFC, Chick-fil-A, Carl’s Jr. are just some of the popular chains to have recently filed for brand trademarks for NFTs. Chipotle’s competitor, Wendy’s in April, worked with Meta to launch a virtual Wendy’s store, where users can create an avatar and enjoy a meal at a virtual restaurant.