All Pizza Hut in Venezuela to accept Cryptocurrency!
You might be thinking so what, I don't live anywhere near Venezuela. Think Bigger!
1) Pizza Hut is a US Based Multinational firm called Yum! Brands Inc. It is part of the Fortune 1000 and is publicly traded under the ticker symbol Yum!
2) The brands undermanagement are KFC, Pizza Hut, Taco Bell, The Habit Burger Grill, and WingStreet worldwide. Their location data from 2019 shows 50,170 locations. There is an exception and that exception is China. where the brands are operated by a separate company, Yum China.
3) KFC is one of the best sellers in all of China (think 1B+ people live there)
So let's get back what is going on in Venezuela... Pizza Hut will accept crypto currencies through the payment platform Cryptobuyer the announcement took place on Friday 27/11/2020.
Which will they accept? Bitcoin, Ethereum, Dash, Litecoin, Binance coin, tether, DAI, and Cryptobuyer’s native token, XPT.
Why is this important? On two levels it allows a US Multinational to continue to provide goods to local populations and the larger value is it allows Yum! Brands Inc to be able to provide these services in China and more importantly here in the USA (another bottom up crypto player). Sure they could drop the ball, and fail to bring it to the countries if that happens they need to purge the entire management staff and C suite and do it right.
Summary This allows Yum! Brands Inc to be able to compete in with the likes of Burger King in Venezuela which started allowing Cryptocurrencies payments earlier this year. Additionally, this is a key foundational layer for the US