After Tesla CEO, Elon Musk took his Twitter handle to announce that Tesla is now ready to accept payment in Cryptocurrency, PayPal comes out less than a week hence. Popular global payment processor PayPal Holdings Inc announces that it has already facilitated its US customer base to use its cryptocurrency holdings to pay at millions of its online merchants globally. This move will significantly catalyze the use of digital assets in daily commerce among various global brands.
While the Tesla CEO has long been a crypto-warrior on a mission, PayPal’s announcement was relatively measured. PayPal allows the merchants to be paid in fiat currency. Tesla, on the other hand, intends to hold the crypto they accept.
Top Brands Accepting Cryptocurrency
Some of the high tables of Wall Street have had to succumb to the raging popularity of cryptocurrency and accept those as an investment class. Goldman Sachs and JPMorgan Chase rank among the latest entrants to the club. There have been other brands committed to or intermittently toying with crypto as a payment method. Some of those companies are:
The organization that operates the world’s largest free editable online encyclopedia, Wikipedia, accepts donations in cryptocurrency.
Microsoft allows its users to pay for their subscriptions in crypto. Somewhere down the line, the company stopped accepting their payment in crypto, however, they resumed the practice, shortly afterward.
The major US mobile carrier AT&T offered its customers the cryptocurrency payment option.
- Burger King
As per a local news report, some outlets of Burger King in Venezuela partnered with a local crypto investor and accepted crypto as a mode of payment.
KFC Canada went on to accept cryptocurrency as a mode of payment for a limited time.
Several Subway outlets accepted cryptocurrency as a mode of payment for their sandwiches for some time.
- Pizza Hut
Pizza franchise giant, Pizza Hut of Venezuela could be purchased for cryptocurrency as of November 2020.
- Dallas Mavericks
Dallas Mavericks club has recently enabled cryptocurrency as a mode of payment acceptable for game tickets as well as merchandise.
It is interesting to note that the brands like Microsoft, AT&T, and others had turned in the right direction at the right time. Others however reluctantly, are coerced into the adoption of crypto to go with the flow. While not a large number of brands or stores accept cryptocurrency as a mode of payment, the number is incremented every passing year. As is evident, the cryptocurrency didn’t turn out to be the ‘bubble’ it was initially dismissed for. Nor is it about to fizzle anytime soon, as the investment of industry giants stands for it.