Cryptocurrency Dash is now being accepted in Venezuelan fast-food chain Church’s Chicken, contrary to reports claiming it was being accepted at KFC.
The cryptocurrency, which is designed for payments and e-commerce, is now being accepted in 10 locations across Venezuela.
Church’s Chicken Venezuela becomes the first major franchise group to accept Dash. It joins a growing list of over 2,200 merchants in Venezuela that now take Dash at the point of sale.
— Dash Merchant – Venezuela (@dashmerchant) December 12, 2018
Bradley Zastrow, Global Head of Business Development at Dash Core, said: “We’re proud to be the exclusive cryptocurrency payment for Church’s Chicken in Venezuela. It’s further evidence that Dash leads the way in digital payments. The Dash Venezuela team has done an incredible job fostering this emerging ecosystem on the ground.”
There were a number of reports earlier this week that claimed Dash was being accepted by major fast-food chain KFC in Venezuela, but this was later refuted by Dash Merchant Venezuela’s Twitter page.
“Unfortunately, the message released was premature and reflected our optimism instead of the current stage of our discussions with KFC Venezuela. We regret the error and would like to apologize to KFC Venezuela, their directors, and the general public,” the statement read.
Due to an unsustainable rate of growth in terms of inflation, Venezuela have adopted cryptocurrencies to hedge against their flailing national currency, the Bolivar. The IMF predict that inflation could rise to as high as one million percent, presenting a key use case for cryptocurrencies like Dash.
Disclaimer: The author of this news article does not hold, or have a vested interest in, Dash. The author also does condone the consumption of animal products.