Shiba Inu ($SHIB), Dogecoin ($DOGE) and Others to Be Accepted as Payment at Thousands of Restaurants

A new collaboration between major global restaurant software and payments solution provider Lavu and Fintech payments firm Verifone is set to allow thousands of restaurants in 65 countries to accept several cryptos as a payment method.

These cryptocurrencies include the meme-inspired cryptocurrencies Shiba Inu ($SHIB) and Dogecoin ($DOGE) as well as several stablecoins and leading assets like Bitcoin ($BTC) and Ethereum ($ETH).

According to an announcement, the cross-distribution partnership between Lavu and Verifone is set to “seamlessly integrate” the software of both firms to allow for advanced payment methods at thousands of restaurants. These advanced payment methods will be available at a unified point-of-sale to boost customers’ payment experiences.

The announcement details that restaurants will be able to “more easily meet rapidly evolving consumer behavior, most notably the accelerated shift to digital and split payments” thanks to the partnership, with not only cryptocurrencies being added as a payment method, but also Alipay, Affirm, PayPal, Venmo, WeChat Pay, and others.

The new partnership comes at a time in which Shiba Inu’s burn rate has been exploding, so much so that a record 12.8 billion SHIB were burned in only 24 hours after the cryptocurrency’s burn portal started distributing $RYOSHI rewards to those who burn tokens.

So far, a total of 410.35 trillion SHIB have been burned since the cryptocurrency was launched. Initially, Shiba Inu has a total supply of one quadrillion tokens, but 50% of them were locked in a smart contract to provide liquidity on decentralized exchange Uniswap, while another half were sent to Ethereum co-founder Vitalik Buterin.

The Ethereum co-founder grabbed around 90% of the tokens donated to him and burned them in a transaction that removed over 410 trillion SHIB from circulation.

Notably, the burn portal may soon be complemented by a donation portal, which has been suggested by community members looking to further SHIB’s use as a charitable cryptocurrency.

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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured image via Pixabay