On Tuesday morning, Regal, a cinematographer with over 500 locations and 7,000 cinemas in 42 states plus the capital, announced that it will partner with digital payments network Flexa to allow customers to pay for movie tickets, food and drinks in cryptocurrency. Regal accepts a wide range of coins and tokens such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Doge (DOGE), USD Coin (USDC), DAI (DAI), Gemini Dollar (GUSD), Chainlink (LINK )), Cosmos (ATOM), Basic Attention Token (BAT) and others.
Flexa is known for its ability to guarantee payments for real-world applications. During high blockchain activity such as BTC or ETH, it can take hours or days for a transaction to be confirmed. Flexa says that by using the market value of the underlying ERC-20 token as collateral, it can ensure that the transactions it processes will always be executed. Meanwhile, holders of Amp tokens receive a bonus for risking their capital.
Ken Tevez, director of marketing for Regal, said the following regarding the development:
This exciting partnership allows us to easily and seamlessly accept digital currencies […] across all our theaters in a simple and completely contactless manner, giving our guests the flexibility and security they deserve as they step into a new frenzy.
Trevor Filter, co-founder of Flexa, added:
We’re thrilled to partner with Regal as we work to bring the global digital currency to pay for films and more, and help bring future payments to theaters.
Regal isn’t the only movie theater chain in the country to use cryptocurrency. Earlier this month, AMC began accepting BTC for online movie ticket purchases. The AMC CEO also received very positive comments in a Twitter poll that asked if customers would like the company to accept Shiba Inu as payment.