TL;DR Breakdown:
- AMC Theatres CEO has confirmed the entertainment giant will roll out the planned crypto payments service later this year.
- They will also support three more cryptocurrencies besides Bitcoin.
Adam Aron, the chief executive officer at AMC Theatres, has confirmed the news that the world’s leading movie theater chain is planning to roll out support for Bitcoin payments. He also mentioned that the entertainment giant would expand the number of supported coins by the time the service goes live later this year.
Besides Bitcoin, the movie theater will also support three other major altcoins, including Ether (ETH), according to a recent tweet by the CEO.
AMC Theatres set to debut crypto payment
AMC Theatres previously disclosed in August that it was planning to integrate support for Bitcoin payments. Through the service, customers will be able to pay for online tickets and concessions using digital currencies. Alongside Bitcoin, the entertainment company will also accept payments in Ether, Litecoin, and Bitcoin Cash.
The crypto payment service will be launched by the end of the year, according to the CEO. AMC Theatres planned to extend this support to all of its theatres around the world, as Cryptopolitan previously reported.
Institutions rapidly adopting crypto for payments
Crypto has gained more adoption as a “payment currency” across several sectors this year, compared to the previous years. This can be related to its growing popularity around the world.
In June, a Paraguayan university announced that its students could pay for their tuition fees in Bitcoin and Ether. Cryptopolitan also reported that several insurance companies in the United States are accepting payments in digital currencies. These developments bring cryptocurrencies closer to Satoshi Nakomoto’s dream of enabling a viable electronic means to payment, rather than just for speculative purposes.
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