As hyperinflation continues to bite in Venezuela, fast food outlet KFC is the latest to turn to Dash…
Fast food giant KFC has announced that it’s going to start accepting cryptocurrency in payment for its tip-top quality food and drink. The snag? Only in Venezuela.
Venezuela, of course, has found itself under heavy financial pressures this year, with hyperinflation and the ‘bumpy’ launch of its own national cryptocurrency, the Petro. With the country’s fiat currency struggling to hold any value, several companies have turned to crypto in the currency: but not the Petro.
Already, fast food outlets such as Subway and Papa John’s have started accepting payments in Dash for their products. And now KFC is to start accepting it as well.
Thus far, it’s only branches of KFC in the capital city, Caracas, that accept Dash. The plan is to expand acceptance of Dash to over 20 other locations around the country.
Dash is continuing to push itself as a form of payment in Venezuela, and it’s well placed to do so. It’s relatively quick as far as cryptocurrency payment processing goes, and that places it ahead of much of its competition. Over 2000 companies are now accepting it as a payment method.
KFC starts accepting Dash payments over the coming week, with the rest of the rollout continuing over the coming months. Meanwhile, the Venezuelan national currency continues to struggle, and inflation continues to soar. Dash may yet be making further inroads as a consequence of that, and fast.