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3.34%Chipotle Now Accepting Cryptocurrency Payments at US Locations
The Tex-Mex chain’s partnership with Flexa allows customers to pay with 98 different digital currencies, including BTC, ETH and SOL.
Updated May 11, 2023, 5:41 p.m. Published Jun 2, 2022, 5:56 p.m.
Fast-casual chain Chipotle Mexican Grill (CMG) has begun accepting cryptocurrency payments through Flexa, a digital payments platform.
Customers can pay for their burritos and other Tex-Mex favorites using Flexa at any Chipotle restaurant across the U.S. The Flexa platform supports 98 digital currencies, including bitcoin (BTC), ether (ETH) and Solana's SOL. Customers must download the Gemini or SPEDN app, which store digital assets, to use Flexa for in-store purchases.
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To celebrate its new payment options, Chipotle is giving 10% off to customers who make their next purchase with any digital currency in a Flexa-enabled app.
This isn’t Chipotle’s first move into digital currency. Last year, Chipotle announced it would give away $100,000 in free burritos and $100,000 in bitcoin to celebrate National Burrito Day. This year, Chipotle launched its own in-experience currency, Burrito Bucks, on Roblox (RBLX) to accompany the launch of its Burrito Builder game on the same platform. Players could exchange Burrito Bucks for a free entrée code at participating Chipotle restaurants.
Chipotle joins a growing list of fast-food restaurants experimenting with cryptocurrency payments and promotions. In March, Shake Shack (SHAK) announced customers would receive 15% of their purchases back in the form of bitcoin on any Shake Shack purchase made with Block’s (SQ) Cash App debit card, Cash Card. Nearly a year earlier, sandwich shop Quiznos partnered with Bakkt App to launch a pilot program to accept payments in bitcoin at select Quiznos outlets in Denver.
Flexa co-founder Trevor Filter says expanding digital currency payment options benefits both customers and companies.
“Chipotle benefits from reaching customers where they are through the new payment methods they want to use,” Filter told CoinDesk. “And, at the same time, Chipotle’s customers benefit from greater payment flexibility, faster checkout and a more seamless experience at the fast casual restaurants they already love.”
Read more: Gucci to Accept Crypto in Some US Retail Stores: Report
Elizabeth Napolitano
Elizabeth Napolitano was a data journalist at CoinDesk, where she reported on topics such as decentralized finance, centralized cryptocurrency exchanges, altcoins, and Web3. She has covered technology and business for NBC News and CBS News. In 2022, she received an ACP national award for breaking news reporting.
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