Chipotle To Support Crypto Payments Via Partnership With Flexa

Table of Contents

• Details Of The Partnership 
• Flexa’s Other Partnerships 
• Chipotle’s Previous Cryptocurrency Experiment
• Other Fast Food Players In Crypto 
• DraftKings Also Contemplating Crypto Payments 

Chipotle, the Mexican-style fast-food chain, will begin accepting digital currency payments thanks to its partnership with Flexa. The partnership will see the chain support payments in 98 different cryptocurrencies across 3000 outlets spread across the United States. 

Details Of The Partnership 

Under the partnership with Flexa, Chipotle will accept cryptocurrency payments across all its outlets in the United States. This means customers will be able to purchase their orders in all the major cryptocurrencies such as BTC, ETH, LTC, Dogecoin, and more. It will also support seven stablecoins, including the USDC. However, while Flexa has announced the partnership on their Medium page, Chipotle has not mentioned any update or shared any information about the partnership. 

“Bitcoin, but make it **burritos.** We’re delighted to share that @ChipotleTweets is now accepting payments in #bitcoin, #ether, #dogecoin, and more, exclusively through Flexa.”

Flexa’s Other Partnerships 

Chipotle is the latest in a long line of partnerships announced by Flexa, with several other large businesses having announced partnerships with the digital payment provider. Earlier, cinema operator Regal Theaters had announced a partnership with Flexa. It had also announced a partnership with El Salvador’s largest financial institution, Bancoagrícola. The partnership with the finance giant would see Flexa enable merchant and retail Bitcoin transactions for the bank’s customers. 

Chipotle’s Previous Cryptocurrency Experiment

This is not the first time Chipotle has dabbled in cryptocurrencies, with its last experiment coming in April 2021 when it celebrated National Burrito Day. Chipotle gave away $100,000 worth of BTC, along with free burritos. It also claimed to be the first US restaurant brand to offer a cryptocurrency giveaway. 

Chipotle had partnered with the former chief technology officer of Ripple, Stefan Thomas, and created a game where players had to guess a code and stood a chance to win either a burrito or up to $25,000 worth of BTC. The game was essentially a parody of Thomas losing access to over 7000 BTC because he forgot the password to his crypto wallet. Currently, the value of the 7000B BTC would be around $208 million. 

Other Fast Food Players In Crypto 

Chipotle is not the only US-based fast-food chain that has experimented with crypto. Burger King had announced a partnership with Robinhood back in November, giving away ETH, Doge, and BTC with meal purchases. McDonald’s has also filed multiple trademark applications, which include plans for a virtual restaurant in the Metaverse, and also operating a virtual restaurant that features home delivery. 

Surveys have suggested that while only 4% of merchants were accepting crypto payments, 60% responded that they would explore the idea of accepting crypto payments within the next year. 

DraftKings Also Contemplating Crypto Payments 

The CEO of DraftKings has revealed that the company is exploring the option of enabling crypto payments on its platform. CEO Jason Robins revealed the news when he was asked if the platform would accept cryptocurrencies as payment. He stated in the affirmative, going on to say, 

"Certainly people want it. Certainly within the marketplace, we should be able to do that. So we're working towards it."

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.