The news about the well-known restaurant chain, Pizza Hut, which has started to accept several cryptocurrencies in all its premises in Venezuela, one of the countries where crypto payments are particularly widespread, is circulating around the world.
Pizza Hut not only accepts Bitcoin (BTC) but several crypto assets such as Ethereum (ETH), Dash, Litecoin (LTC), Binance Coin (BNB), Tether (USDT), the DAI stablecoin and also Cryptobuyer’s token XPT.
Pizza Hut, how will crypto payments take place
In fact, this expansion in the crypto sector by Pizza Hut was made possible thanks to an intermediary, Cryptobuyer, which is responsible for facilitating communication between the consumers and the company that will receive the crypto payment.
It is worth pointing out that in Venezuela the most widely used service is the Mega Soft service provided by Merchant Server, where the “Cryptobuyer Pay” has been integrated, allowing Pizza Hut to integrate this type of crypto solution.
Among other things Cryptobuyer, through the so-called Merchant Server, can accept more than 100 different crypto assets as it has a partnership with the Japanese Liquid exchange, allowing merchants to convert their cryptocurrencies into fiat immediately.
Crypto in Venezuela
Unfortunately, the situation in Venezuela is still bad, due to the heavy inflation, but had there not been cryptocurrencies it would surely have been even worse.
Thus it is possible to see that Venezuela has found its own lifeline with the blockchain and this has allowed citizens to find a payment system that is volatile but certainly less than their own bolivar.
Finally, we recall that in this country it is possible to apply for passports by paying in Bitcoin and it is also possible to pay for petrol directly using crypto, demonstrating how a crypto-based system can work.
