Customers will be able to purchase movie tickets and concessions with crypto at over 500 Regal cinemas.
On Tuesday morning, Regal, a movie operator of more than 500 locations and 7,000 screens in 42 states plus D.C., announced it would be partnering with digital payment network Flexa to enable its customers to pay for movie tickets, food and beverages in crypto. Regal will accept a wide variety of coins and tokens, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Doge (DOGE), USD Coin (USDC), DAI (DAI), Gemini Dollar (GUSD), Chainlink (LINK), Cosmos (ATOM), Basic Attention Token (BAT) and more.
Flexa is known for its ability to guarantee payments for real-world applications. In times of peak activity on blockchains such as BTC or ETH, it can take hours or days for transactions to be verified. By leveraging the market value of its underlying ERC-20 token Amp as collateral, Flexa says it can ensure that the transactions it handles will always go through. Meanwhile, Amp token holders earn a reward for putting their capital at risk.
Ken Thewes, chief marketing officer at Regal, said the following in regards to the development:
This exciting partnership enables us to easily and seamlessly accept digital currencies [...] across our theatre footprint in a simple and completely contactless way, providing our guests with the flexibility and safety they deserve as we embark on a new era.
Trevor Filter, co-founder of Flexa, added:
We're very pleased to partner with Regal as we work to enable universal digital currency payment options for movies and more, and help bring the future of payments to cinema.
Regal isn't the only theatre chain in the country that's adopting cryptocurrency. Earlier this month, AMC began accepting BTC for online movie ticket purchases. AMC's CEO also received overwhelmingly positive feedback asking if customers wanted the company to accept Shiba Inu as payment in a Twitter poll.