Restaurant giant Landry’s will be working with New York Digital Investment Group (NYDIG) in order to roll out a bitcoin loyalty rewards program, the group announced Tuesday (Nov. 9).
The report says the program will allow members of Landry’s Select Club to access bitcoin points when dining at any of Landry’s locations, with Landry’s hoping to take the program live before Thanksgiving.
The current rewards program has an offer for one point back for every $1 spent, and 250 points would get one a $25 reward.
Landry’s says it will invest in bitcoin through the NYDIG institutional-grade custody solution, saying that would constitute holding some of its own treasury reserves through NYDIG.
“Customers that opt in to the new bitcoin loyalty program can receive points that track the value of bitcoin and can be redeemed in $25 reward increments based on the market price of bitcoin at the time they redeem,” the company told CNBC. “All bitcoin loyalty points may only be redeemed for Landry’s Select Club rewards and will not be transferable outside of the Landry’s Select Club.”
Trey Zeluff, Landry’s digital asset strategy director, said since the company views bitcoin as a “good choice” for its own needs, it wants to offer this to customers.
In other news, the city of Miami plans to start doling out bitcoin for citizens, with Mayor Francis Suarez going all-in on getting crypto payments crypto rolling in the city, a Bitcoin Magazine report says.
Suarez announced the new development on Thursday (Nov. 11) in a CoinDesk TV interview.
Suarez has been a heavy proponent of crypto and has wanted to make a bitcoin economy in the highly populated Florida city. Last week, he also announced he would be taking his salary in bitcoin.
When asked if he could foresee bitcoin being used as cash and for a tax payment method, Suarez confirmed that this was the idea, as he sees “very quickly” a world where bitcoin can be used to make payments.
“We need people to understand that bitcoin is increasing in value and yes, we want you holding bitcoin,” Suarez said, per the report. “But at the same time, we need to increase the utility of Bitcoin, which increases the value even more and also creates more functionality so people can be in a better currency, frankly.”
In addition, Suarez says he wants to let employees get paid in bitcoin and allow residents to pay for city fees and taxes.
The city also wants to roll out a bitcoin digital wallet to airdrop bitcoin earned through staking MiamiCoin, the name of the crypto created for the city, in the Stacks blockchain protocol.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More