Paris, known as the fashion capital of the world, has become a hub for web3 innovation, hosting some of the biggest blockchain events. Among the major crypto players and brands who attended was global food chain Burger King. With the city experiencing a surge in crypto adoption, Burger King has decided to serve crypto payments in its outlets.
On March 27th, Burger King announced that it is accepting crypto payments at its restaurants in Paris. Customers can pay for their meals using over 70 unique cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Dogecoin (DOGE), and more. The global franchise has installed special machines called Instpower, which is a power bank rental machine that will facilitate crypto payments via Binance Pay powered by Alchemy Pay.
Yann Phu, CEO of Flash Development, the distributor of Instpower machines in Europe, shared his delight about the new initiative. He said, “By having Alchemy Pay help users to pay with crypto via Binance Pay, we are bringing cutting-edge payment options to Europeans.” This partnership with Burger King in Paris has taken Instpower’s operations to the next level in Europe.
Paris welcomes over 30 million tourists from around the world every year. The city is buzzing with high-profile events, business people, and vacationers. The city is also home to the most Burger King franchises in the country, which is why the global food chain took this step. Binance and Alchemy are committed to making crypto payments easier in the region, as cryptocurrencies can significantly improve accessibility for travelers due to their borderless nature. The web3 firms have so far installed special devices in over 14,000 locations worldwide.
Burger King’s adoption of crypto payments is a significant milestone for the company and the city’s guests. It is also a landmark achievement for the crypto industry, as Burger King serves billions of customers worldwide and is considered a titan. The success of crypto payments in franchises across Paris could translate across borders to other cities around the world.
While Burger King is the latest fast-food chain to accept crypto payments, McDonald’s branch in Lugano, Switzerland, was the first major fast food brand to accept cryptocurrency payments in Europe. The Swiss branch started receiving crypto in October 2022. However, Binance suspended its GBP services to new users on March 14 due to its fiat partner pulling out, and the crypto exchange has until May to find another partner. Furthermore, regulators have been on a roll of shutting down crypto-friendly banks and service providers in the United States, and upon official orders, Binance has stopped issuing its branded stablecoin, BUSD.
In conclusion, Burger King’s decision to accept crypto payments is a significant move for both the fast-food industry and the crypto industry. As Paris is a city that attracts millions of tourists every year, the success of crypto payments at Burger King’s franchises in the city could pave the way for other cities worldwide. This initiative highlights the potential of cryptocurrencies in facilitating borderless transactions and making payments easier for travelers.
