Last updated on January 2nd, 2018 at 12:00 am
Although this is not the first Subway franchise to announce a Bitcoin payment option, it is the first time that one of the brand’s stores in Argentina officially becomes cryptocurrency-friendly. And we are not talking about one Subway store, but two, both located in Buenos Aires.
Starting next week, two Subway locations in the Argentinian capital and owned by Fernando (who wants to keep his surname anonymous), a young entrepreneur that got into the sandwich business in 2012, are going to implement a Bitcoin payment option. These stores will become the first in Latin America to accept cryptocurrency and only the third worldwide, after other two franchises in the United States and Russia took the same step.
Last Saturday, “I was the only one with a shop open [on Reconquista 934]in front of the hotel where the Bitcoin conference was being held. All of a sudden, I had a bunch of kids talking to me about it. It really grabbed my attention, because I thought it was something a lot more isolated“, Fernando told PanAm Post.
Although Fernando firstly became interested in digital money back in December 2013, when Buenos Aires held the first Bitcoin conference in Latin America, he is now eager to go down in history as the first franchise owner in South America to accept digital currency.
The idea to start accepting Bitcoins at these restaurants “was introduced by Agustín Aguilar, a member of BitPagos, the company that operates half a block from the Bitcoin Embassy Buenos Aires”. According to Fernando, “he approached me and asked if I knew what Bitcoin was and why I didn’t accept it as payment. And I agreed”.
However, he is still skeptical and believes Bitcoiners constitute a very small group. “I hope it leaves at least a few heads spinning”, he explained.
The good news becomes public a few days after the Argentinian cryptocurrency exchange Unisend announced it was halting all customer deposits and bank transfers after Banco Santander Río and Banco Gailicia suddenly closed the company accounts.
Featured image: PanAm Post