On Tuesday morning, Regal, a cinematographer with over 500 locations and 7,000 cinemas in 42 states plus the capital, announced that it will partner with the Flexa digital payment network to allow customers to pay for cinema tickets, food and drinks in cryptocurrency. Regal accepts various coins and tokens such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Doge (DOGE), USD Coin (USDC), DAI (DAI), Gemini Dollar (GUSD), Chainlink. (LINK), Cosmos (ATOM), Basic Attention Token (BAT) and others.
Flexa is known for its ability to secure payments for real-world applications. During high activity on a blockchain like BTC or ETH, it can take hours or days for transactions to be confirmed. By using the market value of the underlying ERC-20 token as collateral, Flexa says they can ensure that the transactions it processes will always go through. In the meantime, holders of Amp tokens receive a bonus for risking their capital.
Ken Tevez, marketing director for Regal, said about the development:
This exciting partnership allows us to easily and seamlessly accept digital currencies […] in our cinema premises in a simple and completely contactless way, and gives our guests the flexibility and security they deserve when we enter a new era.
Trevor Filter, co-founder of Flexa, added:
We are excited to partner with Regal when we offer global digital currency payment for movies and more, and help secure the future of cinema payments.
Regal is not the only cinema chain in the country that accepts cryptocurrency. Earlier this month, AMC began accepting BTC for online movie ticket purchases. The AMC boss also received very positive comments, in a Twitter survey they asked if customers want the company to accept Shiba Inu as payment.