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The well-known fast-food chain, Burger King, has begun accepting crypto payments at one of its Paris locations, thanks to Alchemy Pay and Binance Pay and the Instapower power bank top-up service.
Binance and Alchemy Pay solution brings crypto payments to Paris-based Burger King
Burger King in Paris has added Instapower power bank top-up service, which has partnered with crypto payments providers Alchemy Pay and Binance Pay.
In Paris 🇫🇷, the global fast-food chain #BurgerKing 🍔, has installed the popular #Instpower power bank rental machines that accept crypto payments facilitated by crypto payment providers, #AlchemyPay and #BinancePay.
Read more here👇https://t.co/UsQBXXP929$ACH
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) March 27, 2023
Essentially, users and customers of the French capital’s fast-food chain will be able to pay with cryptocurrency through power bank devices, at more than 14,000 outlets worldwide.
Instapower’s new solution is currently widely used in Asia, while in Europe it only now seems to be beginning to embrace the idea, and the partnership with Burger King in Paris is one example.
Alchemy Pay launched its first hybrid merchant payment acceptance system in 2019, which allowed in-store and online merchants to receive cryptocurrency payments from customers.
By 2021, the cryptocurrency payment acceptance system had touch points with more than 2 million merchants in more than 70 regions.
And indeed, precisely since 2021, the Alchemy Pay network has partnered with Binance to facilitate Binance Pay.
Alchemy Pay and the partnership with Binance Pay to expand crypto payments
Prior to the Instapower solution, Alchemy Pay and Binance Pay had already formed their own partnership.
In fact, as early as August 2021, Binance Pay had managed to bring crypto payments to Shopify, once again thanks to Alchemy Pay. In essence, Alchemy Pay is a fiat-crypto hybrid payments provider that, coupled with Binance Pay’s wallet, creates a bridge for cryptocurrency payments.
However, in addition to Shopify, networks already relying on Alchemy Pay at that time included QFPay, Pricerite, Ce La Vi, Aldo, and Arcadier Saas. Not only that, so did Midwest Global Asia cab service that included a network of as many as 2,500 limousine drivers at that time.
The introduction of Instapower came the following year, as this tweet from 2022 indicates:
We are delighted to have a smooth connection with #BinancePay via @AlchemyPay which brings flexible options to the end users for renting #instpower power banks.
đź‘ŹEmbraces crypto, with flexible payment methods, and worldwide access.#Binance #CryptoPayments https://t.co/QuxY26V7J0
— instpower (@instpower) May 25, 2022
France and the regulation of crypto
While in the French capital it is now possible to eat fries and hamburgers while paying for BTC and other crypto assets, the country remains at the forefront of cryptocurrency regulation.
And indeed, France has seen a series of approvals of new regulations for cryptocurrency companies aimed at cracking down on illicit activities and strengthening oversight to prevent fraud.
In fact, all of these regulations have already been approved by French lawmakers on 22 December 2021, and are now awaiting the signature of President Emmanuel Macron, so they will become law.