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Quiznos Partners with Bakkt to Test Bitcoin Payments

UTC by Daria Rud · 3 min read
Quiznos Partners with Bakkt to Test Bitcoin Payments
Photo: Shutterstock

For Quiznos, the initiative might help to enhance its business that has been rapidly declining after 2009. Meanwhile, for Bakkt, the partnership will add more customers to its app launched in April.

Quiznos, a Colorado-based fast-food chain that specializes in offering toasted submarine sandwiches, has partnered with Bakkt Holdings, a digital asset marketplace, to facilitate Bitcoin transactions and test BTC payments in certain locations in Denver. The pilot program will start in mid-August. If the pilot succeeds, Quiznos will expand its collaboration with Bakkt to more of its 255 US locations.

Mark Lohmann, President of REGO Restaurant 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.”

According to the press release, later this month, Quiznos diners can use Bitcoin bought via the Bakkt app to make payments for their food. Initially, the option will be available in seven Quiznos in the Denver area. It will include the Denver International Airport. In addition, for these transactions, they will also get $15 worth of Bitcoin as a reward.

For Quiznos, the initiative might help to enhance its business that has been rapidly declining after 2009. Between 2007 and 2017, Quiznos shrunk from 4,700 U.S. locations to fewer than 400. The company had a bright success and enjoyed expansive growth at the beginning. But it also suffered one of the biggest restaurant chain collapses in industry history.

Meanwhile, for Bakkt, the partnership will add more customers to its app launched in April. Besides, the company wants to make it easier to execute Bitcoin transactions.

Dining Experience with Bitcoin Payments: Quiznos and Others

Quiznos is not the first restaurant chain to try Bitcoin payments. Nowadays, the list of restaurants accepting Bitcoin and alternative cryptos is growing. Among them are Yum Brands that operates KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, as well as Starbucks that began testing BTC payments last year through the Bakkt app.

Subway was one of the first restaurants to adopt cryptocurrency as a payment method. Since 2013, people have been paying for Subway meals via Bitcoins and other currencies.

Burger King outlets in Venezuela also started accepting cryptocurrencies as a means of payment through its partnership with Cryptobuyer. Its customers can pay in Bitcoin, Dash (DASH), Litecoin (LTC), Ethereum (ETH), and Tether (USDT).

Bitcoin News, Business News, Cryptocurrency news, News
Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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