Digital asset marketplace Bakkt announced yesterday that it was adding toasted sandwiches to the list of things people can buy with Bitcoin thanks to its new partnership with American fast food restaurant franchise Quiznos.
Starting in mid-August, the partnership will launch the first physical location Bitcoin payment pilot at certain restaurants throughout Denver, including Denver airport.
Mark Lohmann, president of the group that owns Quiznos, commented, “Partnering with an innovative platform such as Bakkt is appealing to us for a number of reasons, primarily because it allows us to accept bitcoin directly at the point of sale as part of a quick and seamless transaction. As we continue our digital transformation journey and respond to mobile and millennial consumer demand for alternative and cryptocurrency payment options, we are excited to offer yet another accessible way for customers to buy a meal, in this case, through the Bakkt digital asset wallet.”
Launched in 2018, Bakkt allows people and institutions to buy, sell, store and spend digital assets. The platform expands the utility of Bitcoin and other cryptocurrencies by enabling consumers to use it as a form of payment or convert it to cash or gift cards, as well as taking advantage of crypto-based loyalty programmes.
Bakkt’s Chief Revenue Officer, Sheela Zemlin, explained, “This is an exciting tentpole moment for us as we connect the next generation of customer experiences to the digital economy. Through this partnership, we are introducing unique experiences to Quiznos customers by enabling them to take advantage of new ways to interact with digital assets and bringing bitcoin utility to the mainstream consumer market. We will closely watch how this pilot performs, with the potential to expand the partnership to additional Quiznos locations across the country.”
Quiznos customers in the selected locations will be able to download the Bakkt app in order to pay for their meal with Bitcoin. As a reward, those who do so will receive $15 worth of BTC. Bitcoin payments are settled in fiat and Bakkt aims to make crypto as liquid as fiat by adding even more partners to its ecosystem in the future.