Venezuela has been dealing with hyperinflation for a long time, and on top of that, the United States has also imposed multiple sanctions, resulting in the growing use of cryptocurrencies, especially Bitcoin. Besides Bitcoin mining, the residents of Venezuela are quite fond of using the number one cryptocurrency in day-to-day transactions, and this week, Pizza Hut, one of the oldest pizza chains in the country began to accept Bitcoin and other digital currencies as payment.

As of November 27, 2020, Pizza Hut customers have the option of paying for their orders with cryptocurrency. This makes it the first time and the first nation in the world where the major franchise has adopted digital currencies.

The move was made possible by Latin American crypto payments processor, Crypto Buyer, which collaborated with Pizza Hut. Crypto Buyer is one of the active start-ups that have helped fuel the adoption of cryptocurrencies in Venezuela, with similar collaborations with major retailers in the nation, and also the installation of Bitcoin ATMs

Pizza Hut will now join the ranks of Traki, Venezuela’s largest department store, which has in place an exclusive division for cryptocurrencies and is also the first big store to accept Venezuela’s official cryptocurrency -the Petro- and cryptocurrencies in general.

Other big names that accept bitcoin in Venezuela are Burger King, another renowned fast-food chain, and the Intercontinental and Tamanaco Hotel chains among others.

Public demand for Crypto

It has also been revealed that Pizza Hut’s decision was also partly because of the demand among its customers. The response from the crypto community was also great. Among the many supporters, Mariangel García, Community Manager of Binance Latam, shared her first crypto pizza experience on Twitter.

According to Richard ElKhouri, General Director for Venezuelan operations, the firm was looking to keep up with the ever-changing technological innovations.

“Thanks to our consumers, to the suggestions they offer us and to the direct contact we have with them, we have made alliances with Delivery, with large companies like Coca-Cola and today we are handling alliances with Cryptobuyer as a payment option for the customer, incorporating platforms and their technological advice.”

As of now, all Pizza Hut stores in Venezuela will accept payments in BTC, ETH, DASH, LTC, BNB, USDT, BUSD, DAI, and Cryptobuyer’s native token XPT.

The news also reminds us about the story of Laszlo Hanyecz, who bought two pizzas for 10,000 BTC, back when bitcoin was just over a year old. The day is now known as “Bitcoin Pizza Day” within the crypto community.

Source: https://thedailychain.com/people-are-buying-pizza-with-cryptocurrencies-again-at-pizza-hut/