Whole Foods, Baskin Robbins, others could soon start accepting crypto
Thousands of retailers could soon begin allowing crypto payments
Cryptocurrency enthusiasts recognize the value of being able to make peer-to-peer payments, but most retailers have stayed away due to the volatility of the crypto market. This has changed in recent times and more retailers have started to show more interest in the option. A new partnership could blow the doors off crypto acceptance on a retail level and is already receiving positive responses from those merchants involved in trials, including Amazon-owned Whole Foods and Baskin Robbins.
Gemini-backed startup Flexa has developed Spedn, a way for retailers to easily integrate a crypto payment solution to their existing point-of-sale (POS) equipment. It piggybacks off the existing system that verifies web-based payments, such as Samsung Pay and Apple Pay, and requires no additional equipment.
Retailers can choose to either retain the payment as crypto or convert it to fiat. Payments, and the conversion, are virtually instantaneous, giving consumers and retailers the ability to conduct transactions with no delays.
Spedn has already been installed in certain Whole Foods locations, as well as in Nordstrom’s, Baskin Robbins, Crate and Barrel and Regal Cinemas. It works with Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) and Gemini’s stablecoin and Gemini co-founder Tyler Winklevoss asserts, “The idea of living on crypto is now a reality. You can now do it. For the consumer, it amounts to being crypto conscious. It’s like being green.”
If everything goes well with the testing phase, it’s possible that crypto will soon be seen as a payment option by all retailers across the US and, possibly, across the globe. Things are moving forward at a rapid pace and the future of digital currency looks brighter every day.