International restaurant franchise Pizza Hut has begun accepting cryptocurrency as a form of payment in Venezuela.
- In an announcement on Saturday, digital assets firm CryptoBuyer said it has become the food chain's payments partner in Venezuela.
- Customers can make orders for food with bitcoin, dash and CryptoBuyer's own token, XPT.
- "Today Pizza Hut is trying to go hand in hand with technological innovation, [using] what technology offers ... to be able to maintain ourselves and evolve in the market," said Richard Elkhouri, CEO of Pizza Hut in Venezuela as he confirmed the news to El Axioma.
- CryptoBuyer is a Panama-based startup that has been operating in Latin America since 2015 as a point-of-sale and cryptocurrency ATM service provider.
- With Venezuela suffering from crippling hyperinflation due to U.S. sanctions and poor economic management, the nation is seen as having potential for rising adoption of cryptocurrency as an alternative method of payment and store of value.