A local coffee chain serving Washington has taken a bold step to ensure widespread acceptance of cryptocurrencies.
Compass Coffee, a coffee brand with sixteen stores in Washington, is partnering with Coinbase, the largest crypto exchange in the United States, to offer its customers the option to pay with USDC, Fox Business reports.
To showcase the potential of cryptocurrencies, customers who pay with USDC at Compass Coffee's Half Street location will receive a 90% discount on their order, as well as an NFT that can be used to redeem a free Coinbase-branded can of coffee.
The USDC payment option will initially only be available at the Half Street store, but Compass Coffee has stated that it plans to expand it to its other branches in the future.
While Coinbase and Compass Coffee aimed to reduce the credit card transaction fees paid with this move, they gave a message about saving money by using the coffee cups in their Half Street store.
“The estimated credit card transaction fees paid by US merchants in 2022 were $126 billion, 2.5 times the entire US coffee shop market. But more than 99% of this could be saved using blockchain technology,” the cups said. Wrote.
As you may remember, large companies such as Starbucks, Subway and AMC Theaters have previously accepted cryptocurrency payments.