Flexa, a cryptocurrency payments company backed by the Winklevoss twins, has added support for Shiba Inu, according to a recent announcement.
This means that the holders of the hottest meme coin can now spend it at roughly 40,000 stores across the U.S.
The extensive list of supported merchants includes video game seller GameStop, luxury retailer Nordstrom, home improvement company Lowe’s, pet retailer Petco, domestic merchandise and home furnishings company Bed Bath & Beyond, beauty store chain Ulta Beauty and plenty of other major retailers.
Last month, Knoxville-based movie theater chain Regal Cinemas also partnered with Flexa in order to accept cryptocurrencies.
Starbucks also participated in the app’s trial but was swiftly pulled from the list of available merchants in spite of the viral photo that shows the Winklevoss twins making a payment with the help of the app.
Make an impression with #Bitcoin pic.twitter.com/GGblkiC2st— Jesse Powell (@jespow) May 13, 2019
Crypto payments are facilitated with the help of Flexa’s Spedn cryptocurrency wallet was rolled out in 2019. It initially supported four cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum and the Gemini Dollar stablecoin.
In May, Flexa also added Dogecoin, the original canine meme coin, to the lineup of available cryptocurrencies.
Did you know you could use Dogecoin to buy things at:— Shibetoshi Nakamoto (@BillyM2k) May 18, 2021
And many more other stores? This piece of news went pretty unnoticed, but it’s a big deal! :) https://t.co/DXX8qtL0Tz
The network automatically converts cryptocurrencies into fiat so that retailers do not have to deal with volatility associated with cryptocurrencies. Instant payments are facilitated with the help of Amp, an ERC-20 token that functions as crowdsourced collateral.
Newegg and AMC
Shiba Inu has been making significant inroads with merchant adoption over the past month.
Earlier this week, electronics retailer Newegg made an announcement about accepting Shiba Inu payments earlier this week.
Movie theater giant AMC also plans to add Shiba Inu in early 2022, according to CEO Adam Aron.
Moreover, Shiba Inu is also supported by BitPay, the world’s largest provider of crypto payments.
Yet, the price of the token is down 60.39% from its lifetime peak in spite of these major adoption milestones.