The world’s largest movie exhibition company, AMC Theatres, is on track to accept popular meme cryptocurrencies Dogecoin and Shiba Inu within the first quarter of this year. The CEO of AMC Theatres, Adam Aaron, has provided an update on the company’s progress in implementing Dogecoin and Shiba Inu online payments after he was repeatedly asked for a launch timeline on Twitter by meme coin community members. Aaron had tweeted back in November that AMC Theatres will accept DOGE and SHIB via Bitpay — a promise that was fulfilled in December after Bitpay began supporting Shiba Inu after already supporting Dogecoin payments.

Aron took to Twitter to state that he has been asked repeatedly when AMC expects to accept Dogecoin and Shiba Inu cryptocurrencies “for any and all payments made via the AMC website and mobile app.” He clarified that he is being told that AMC is “well on track” for the promised first quarter implementation, noting that the exact month is most likely March.

AMC Theatres, is the largest movie exhibition company in several markets across the world including the US and Europe. The company owns or operates approximately 950 theatres and 10,500 screens globally.

The AMC executive announced back in November last year that his company will accept DOGE and SHIB via Bitpay. At that time, Bitpay had not started supporting Shiba Inu. Aron claimed that the crypto payment-processing company decided to start supporting SHIB at his request. Aron had also said at the time that AMC will start natively accepting Shiba Inu in Q1 this year.

Aron had also posted a Twitter poll in late October asking if the company should accept Shiba Inu payments, and a resounding 81.4 percent of people voted “for sure”.

AMC Theatres had announced in November last year during an earnings call that the company was already exploring how it could accept Shiba Inu. Aron had then said that the company had found a solution that meant it did not have to hold crypto on its balance sheet, with all the associated risks.

As of now, payments in Bitcoin, Ether, Litecoin, and, Bitcoin Cash for tickets online are operable through PayPal, while Shiba Inu, Dogecoin payments are routed through BitPay. Meanwhile, AMC also supports payments through Google Pay and Apple Pay, although those two options don’t support cryptocurrencies as yet.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Catch the latest from the Consumer Electronics Show on Gadgets 360, at our CES 2022 hub.




Source link