Beginning Monday (Dec. 23), moviegoers across the United States will be able to pay for ticket and concession purchases at Regal theaters with the USDC stablecoin.
The theater chain will offer this payment method at more than 400 Regal Cinemas in collaboration with Coinbase Wallet and Flexa, Coinbase said in a Thursday (Dec. 19) blog post.
To promote the new offering, from Dec. 23 to Jan. 6, Regal will offer a 10% discount to those who pay with USDC on Base through Coinbase Wallet, according to the release.
“We’re thrilled to bring onchain payments to a classic American pastime,” Ashlyn Turner, marketing and sales manager at Regal, said in the release. “For those already familiar with crypto, this is a chance to use digital dollars for a discounted night out. And for newcomers, the discount at Regal offers a glimpse into the benefits of onchain payments.”
The onchain payment experience offered with Regal and Coinbase Wallet was built by Flexa, a company that offers commerce tools that help companies of all sizes accept crypto, according to the release.
“Together, we’re creating a seamless way for moviegoers to save money while enjoying the benefits of digital currency in a secure and efficient manner,” Flexa co-founder and CEO Daniel McCabe said in the release.
Stablecoins, which are cryptocurrencies designed to maintain a stable value by being pegged to a reserve asset (usually a fiat currency like the U.S. dollar or euro), are emerging as a tool bridging the gap between traditional financial technology and the world of cryptocurrencies, PYMNTS reported in October.
Their ability to offer the efficiency and transparency of blockchain technology while providing the familiarity and stability of fiat currencies is critical for integrating blockchain-based assets into mainstream financial systems.
In an earlier, separate product launch, financial infrastructure firm Stripe authorized its merchants in the U.S. to receive USDC through their online checkout pages beginning Oct. 9.
In the first 24 hours of offering this option, Stripe saw that customers from more than 70 countries made purchases with that form of payment.
On Dec. 5, cryptocurrency payments solution firm Triple-A announced an integration with Coinbase, saying the integration is designed to let Coinbase users make payments to select merchants in the Triple-A network.
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