Tech

AMC Theaters Will Offer Shiba Inu Crypto Payments Through BitPay In 2-4 Months, CEO Says


A few days after opening the door to online crypto payments to moviegoers, US-based global cinema chain AMC Theaters is set to offer meme-inspired crypto and to the audience. Dogecoin player Shiba Inu (SHIB) also participated. AMC Theater CEO Adam Aron confirmed the company will start accepting SHIB for online payments within the next two to four months. Announcing the decision on Twitter, Aron revealed that he has personally lobbied BitPay – the blockchain payments company used by AMC Theater – to support Shiba Inu, which has gained massive adoption over the past few weeks. .

According to Aron’s tweet, electronic money payment processor BitPay is adding a “special” Shiba Inu because he asked them so that AMC can accept the meme-inspired cryptocurrency for online payments for movie tickets and discounts. Aron previously posted a Twitter poll at the end of October, when asked if the company should accept Shiba Inu payments, and 81.4% of people voted “definitely”.

AMC Theater announced earlier this month during an earnings call that the company has learned how to accept Shiba Inu. Aron later said that the company had found a solution that meant it didn’t have to keep the cryptocurrency on its balance sheet, given all the risks involved.

The CEO recently tweeted about AMC accept Bitcoins and some other cryptocurrencies as a payment method when paying for tickets online at the end of the year. The move comes more than three months after the popular theater chain announced during an earnings call that crypto payments for online transactions will be enabled before 2021 ends. AMC claims that alongside Bitcoin, customers will be able to use Ethereum, Litecoin, and Bitcoin Cash to buy movie tickets. Dogecoin is also expected to make the list soon.

According to that announcement, Bitcoin, Ether, Litecoin and Bitcoin Cash payments for online tickets will be enabled through PayPal, while Shiba Inu payments are transferred via BitPay. Meanwhile, AMC also supports payment through Google Pay and Pay for apple, although those two options do not yet support cryptocurrencies.

The company has been a leader in crypto adoption and has accepted Dogecoin as pay for gift cards partnering with BitPay, so the transition to official support is probably not too far off, especially since it is “everyone’s cryptocurrency”.

Along with crypto adoption, AMC has also announced plans to open more than a dozen new locations across the US, Europe, and the Middle East. The company currently owned 950 cinemas and 10,500 cinemas worldwide.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and Founder of Weekend Trajectory, podcast Gadgets 360. Orbit is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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