Cryptocurrency payment service platform BitPay on Thursday (Dec. 9) announced that merchants in its network can now accept Shiba Inu for payments and that consumers can buy store and swap the digital currency in the BitPay Wallet app.
AMC Theatres and Newegg are among the most prominent advocates of Shiba Inu as a form of payment, even though the coin started as a meme. It’s slowly grown in popularity and sits in the top 15 among cryptocurrencies in market capitalization since starting at zero in May, according to the announcement, citing CoinMarketCap.
“The Shiba Inu community is passionate about its coin and serious about giving those consumers places to spend SHIB,” BitPay CEO Stephen Pair said in the announcement.
“BitPay believes that the more community involvement from coin holders supports awareness and adoption helping to move the blockchain industry to pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds,” he said.
In October, AMC CEO Adam Aron asked in a Twitter poll if the company should add Shiba Inu as a payment option and got resounding approval for use of the decentralized meme token for buying tickets, concessions and more across the movie theater chain.
Now, using Shiba Inu on purchases at merchants who accept BitPay or where a gift card can be purchased through the BitPay Wallet is inching closer to reality.
“Attention #SHIBArmy: Our friends @BitPay decided to support Shiba Inu specifically because I asked, so AMC can take Shiba Inu for online payments of movie tickets and concessions,” Aron tweeted. “@AMCTheatres to be the first @BitPay client to accept Shiba Inu. Timing 60-120 days. This is a WOW!”
Newegg announced its participation in the Shiba Inu payment phenomenon on a massive digital billboard at The Reef in Los Angeles, at the intersection of I-10 and I-110 freeways.
“We are always looking for ways to innovate the shopping experience on Newegg.com, and something our customers want is greater flexibility and options, including the ability to pay with a wide range of cryptocurrencies,” Newegg Director of Brand Marketing Andrew Choi said in the announcement.
AMC Theatres will accept a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin and Dogecoin, for online tickets and concessions by the end of this year.