McDonalds begins accepting Bitcoin in El Salvador

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Fast food giant McDonalds began accepting bitcoin as a form of payment in El Salvador after the country became the first to adopt cryptocurrency as legal tender on Tuesday.

The move by American fast food chains follows the country’s adoption of cryptocurrency as legal … [+] tender.

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California-based bitcoin payment processor OpenNode confirmed to Forbes that it has partnered with McDonalds to allow it to start accepting bitcoin (Editor’s note: OpenNode previously told Forbes that Panda Express uses also bitcoin, but has since said it was a mistake and clarified the coin to us).

Bitcoin can now be used to pay at 19 McDonalds locations nationwide, as well as online and through the delivery app, OpenNode said.

While this appears to be the first major US firm to adapt to El Salvador’s cryptocurrency initiative, OpenNode spokesperson Ryan Flowers said his team is currently onboarding several multi-billion dollar companies. based in El Salvador.

Crucial quote

I just walked into a McDonalds in San Salvador to see if I could pay for my breakfast with bitcoin expecting to be told no, cryptocurrency reporter Aaron van Wirdum wrote in a tweet Tuesday morning. But down and there you go.

Key context

El Salvador on Tuesday became the first sovereign government to adopt bitcoin as legal tender alongside its current currency, the U.S. dollar. It allows residents of the country to pay taxes and other debts using bitcoin, and businesses to expand their payment options to include cryptocurrency. However, El Salvador has proclaimed that Bitcoin Day got off to a rocky start as the cryptocurrency market plunged, with the price of bitcoin falling from over $ 52,000 to $ 42,830, its lowest level in nearly three weeks. Tuesday morning. Bitcoin fell back to just under $ 46,957 at 1:45 a.m. EDT, still 9% lower than a day earlier.

Further reading

El Salvador appeals to billionaire-backed Bitcoin unicorn for historic debut in legal tender (Forbes)

Crypto Flash Crash Wipes Out $ 400 Billion In Bitcoin Day Market Value Before President Of El Salvador Bought The Plunge (Forbes)

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