Large Coffee Chain Based In D.C. Will Now Accept Crypto As Payment
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March 20, 2024 12:36 pm
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Veteran-owned coffee brand Compass Coffee has announced it will now accept cryptocurrency as a payment method.
Compass Coffee, which has 16 stores in the D.C. area has partnered up with Coinbase to offer their customers the option to pay with USDC.
The move by Compass makes the coffee chain the first coffee chain in the D.C. area to accept cryptocurrency as a form of payment.
At one location, customers will receive a whopping 90% off on their orders when using USDC.
Coinbase Boosts USDC Stablecoin Payments, Ads
Coinbase and Compass Coffee have teamed up to promote the use of USDC Stablecoin for everyday transactions. One of the most well-known cryptocurrency exchanges, Coinbase… https://t.co/Uw9rUs6SA6 #Coinbase #CryptoPayment #USDCoin
— CoinXposure (@CoinXposure) March 20, 2024
Here’s what Fox Business reported:
A test case for mainstreaming cryptocurrency is coming to a local coffee chain in the nation’s capital, FOX Business has learned.
Compass Coffee, a veteran-owned coffee brand with sixteen stores in the D.C. area, is partnering with the U.S.’s largest crypto exchange, Coinbase, to offer customers the option to pay for their morning brew with USDC, a so-called “stablecoin,” a form of cryptocurrency that works like a digital dollar. Compass is the first D.C. cafe to accept payments in USDC.
On Wednesday, customers who pay with USDC at Compass’s Half Street location will get 90% off their orders as well as a non-fungible token, a type of digital asset, that can be used to redeem a free tin of coffee branded with the Coinbase and Compass logos.
The move is the latest example of how crypto is slowly making its way to Main Street, with U.S. businesses opening up to the idea of accepting cryptocurrency as a payment option.
JUST IN:
DC-based Compass Coffee partners with #Coinbase to accept payments in #USDC stablecoin. Aims to cut down on credit card "junk fees" and improve margins. This marks a step in Coinbase's strategy to showcase crypto's practical uses. #CryptoPayments
— Sharpe Signals (@SharpeSignals) March 20, 2024
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