United States convenience store chain Sheetz has expanded its partnership with crypto payment provider Flexa, allowing digital currency payments for in-store purchases at over 750 locations in the United States.
In a press release, the two companies announced that Sheetz customers can now pay using stablecoins like USD Coin (USDC) and other popular cryptocurrencies. Flexa provides crypto payment solutions, allowing companies to accept digital asset payments.
The firms believe that the expanded partnership highlights the growing demand for alternative payment methods like cryptocurrencies.
Increasing demand for stablecoin use cases
Flexa co-founder Trevor Filter said in the announcement that there’s an increasing demand for stablecoin use cases. He explained:
“The demand for stablecoin use cases continues to grow, and we’re excited to help Sheetz stay at the forefront of payment innovation by offering their customers the ability to pay instantly and securely at any of their stores.”
With the integration, the convenience store chain becomes one of the first major chains in the US to support crypto payments. The integration allows customers to pay with crypto assets like Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and USDC using Flexa.
Sheetz is a family-owned convenience store chain that was established in 1952. It has hundreds of stores across the United States, including Pennsylvania, North Carolina, Virginia, West Virginia, Ohio, Michigan and Maryland.
On Oct. 16, venture capital firm Andreessen Horowitz’s “State of Crypto 2024” report showed that states like Pennsylvania and Michigan saw surges in crypto interest. The report also noted that 40 million Americans now hold crypto.
Crypto search interest in the United States. Source: Andreessen Horowitz
Ryan Sheetz, the executive vice president of marketing and supply chain, expressed excitement about making crypto payments in their stores. “We’re excited to make digital currency payments available at all our stores and to meet the growing interest in stablecoins among our customers,” Sheetz said.
Related: Stablecoins boosting demand for US T-bills: Treasury Dept
Sheetz first accepted Bitcoin payments in 2021
Sheetz’s expansion of its crypto payments partnership follows the company’s initial rollout of Bitcoin payments in 2021. On May 28, 2021, Sheetz announced that it started accepting BTC payments through Flexa on its outlet stores in the US. The crypto payment rollout was for in-store payments and gas pumps.
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