As a seasoned crypto investor with over a decade of experience under my belt, I can’t help but feel a sense of exhilaration upon reading about Sheetz’s expanded partnership with Flexa to accept digital currency payments across their 750+ locations. Having witnessed the rise and fall of countless altcoins, I’ve come to appreciate the resilience and potential of this disruptive technology.
Sheetz, a popular U.S. convenience store chain, has broadened its collaboration with cryptocurrency payment facilitator Flexa. This development allows customers to make purchases using digital currencies at approximately 750 retail outlets spread across the United States.
Through a recent announcement in a press statement, both firms have disclosed that Sheetz patrons are now empowered to make transactions utilizing digital currencies such as USD Coin (USDC) and well-known cryptocurrencies. Flexa serves as the facilitator of these crypto payment options, enabling businesses to accept payments in the form of digital assets.
The firms believe that the expanded partnership highlights the growing demand for alternative payment methods like cryptocurrencies.
Increasing demand for stablecoin use cases
In a recent announcement, Flexa’s co-founder Trevor Filter noted a growing interest in applications involving stablecoins. He elaborated on this by stating:
“The demand for stablecoin use cases continues to grow, and we’re excited to help Sheetz stay at the forefront of payment innovation by offering their customers the ability to pay instantly and securely at any of their stores.”
Through the addition of this feature, the convenience store network becomes one of the pioneering major chains in the U.S. that accepts cryptocurrency payments. This integration enables customers to make transactions using digital assets such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and USDC by utilizing Flexa’s platform.
Sheetz is a family-owned convenience store chain that was established in 1952. It has hundreds of stores across the United States, including Pennsylvania, North Carolina, Virginia, West Virginia, Ohio, Michigan and Maryland.
By October 16th, the report titled “State of Crypto 2024” from venture capital firm Andreessen Horowitz revealed a significant increase in cryptocurrency interest in states such as Pennsylvania and Michigan. Additionally, this report highlighted that approximately 40 million American citizens now possess cryptocurrencies.
Ryan Sheetz, the executive vice president of marketing and supply chain, expressed excitement about making crypto payments in their stores. “We’re excited to make digital currency payments available at all our stores and to meet the growing interest in stablecoins among our customers,” Sheetz said.
Sheetz first accepted Bitcoin payments in 2021
After initially introducing Bitcoin payments at its U.S. outlets in May 2021 via Flexa, Sheetz is now broadening its collaboration on cryptocurrency transactions. This initial move enabled customers to make both in-store purchases and pay for fuel using Bitcoin.
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2024-11-02 22:07