According to local news reports, Burger King outlets in the inflation-hit nation of Venezuela announced a partnership with Cryptobuyer to accept cryptocurrencies as a mode of payment. Customers can now pay in Bitcoin, Dash, Litecoin, Ethereum, and Tether.
Burger King will roll out the crypto payment system across 40 outlets.
Currently, only one branch of Burger King in Venezuela is accepting cryptocurrency as a payment option, but the company plans to roll out the crypto payment option to its all 40 outlets in Venezuela this year. Several merchants in Venezuela have started to accept cryptocurrencies in the last few years as the value of the bolivar dollar has become worthless. The country itself is pushing for the adoption of its cryptocurrency petro.
— Cryptobuyer (@cryptobuyer) December 30, 2019
Venezuela will begin selling oil and gold for petro.
The President of the crisis-hit country, Nicolas Maduro, announced that they have already signed contracts for the sale of oil, gold, and other goods in exchange for petro. He also claimed that the government is successfully introducing the oil-backed cryptocurrency. He also claimed that six million families used the cryptocurrency during the holiday season. Venezuela is also facing sanctions from the United States, which prohibits the nation from engaging in global trade. Maduro is looking to bypass the sanctions using petro.