Brazilian cinema partners with Bancryp to start accepting Bitcoin payments

Brazilian-based cinema Cine Multi and crypto banking firm Bancryp have partnered up to allow moviegoers to pay for tickets with Bitcoin.

Bancryp announced the news in a Medium post, revealing that Cine Multi is the first Brazilian cinema to start accepting Bitcoin payments.

Avid film fans who wish to buy tickets with crypto will now be able to pay at a Bancryp point of sale (POS) terminal using the Bancryp wristband, card, or app.

Fernando Costa, owner of Cine Multi, stated: “Being a pioneer in such an innovative market is an enormous step for Cine Multi. Now, the customers will enjoy a nice environment while they are pioneers in paying for the movies with Bitcoin.”

Bancryp believes that people worldwide are increasingly eager to spend their crypto at places where they were previously unable to.

The banking firm claims it is providing “real-world experience for using crypto-coins in a simple, innovative, and high-tech way.”

The Cine Multi cinema is located at the Multi Open Shopping complex in Florianópolis.

Bancryp is aiming to target one million users and establishments currently active in Brazil throughout 2019. It has the aim of encouraging thousands of people to use crypto in their everyday lives without complexity.

Bancryp’s website reveals it is gunning to become “the first Brazilian crypto bank.”

The site also notes that with “Bancryp and the XBANC token, you can use Bitcoin and several crypto-coins” at machines in physical locations.

Interested in reading more crypto-related news from Brazil? Back in December 2018, Oásis Supermercados also began accepting crypto payments at its stores.