Burger King has partnered with Instpower, to place their power bank rental machines throughout the chain’s various locations in Paris , which will process payments via crypto payment services Binance Pay and Alchemy Pay.
The CEO of the European distributor of Instpower machines, Yann Phu of Flash Development, expressed his excitement about his company’s products being available in Paris:
“This collaboration with Burger King in Paris has taken us to the next level with our operations in Europe. Instpower’s machines will enable customers to power their devices while on the move.”
“In Asia, these powerbanks are used widely, but in Europe, the market is only just beginning to embrace them. By having Alchemy Pay helping users to pay with crypto via Binance Pay, we are bringing cutting edge payment options to Europeans.”
Is France the New Epicenter for Crypto?
In 2019, France launched a “national framework on digital currencies,” in which French Finance Minister, Bruno LeMaire, proposed the adoption of a single regulatory framework for crypto assets.
The laws also heavily favor digital currency traders and issuers, creating an ideal environment to thrive within the country’s borders. In fact, before these participants can engage in any business transactions, they must apply for the proper certification.
France sees digital currencies as an innovative way to accumulate capital, and numerous crypto exchanges, including Crypto.com and Binance, have set up shop in France, acquiring the necessary permits. Also, in February 2023, Miss Opèra, a clothing store, as well as La Carlie, a bar, had payment services set up by both Ingenico and Binance.
French officials also believe that this will fuel better understanding as to how digital currency works, giving it a significant advantage over other countries. Those at the helm of regulation also hope to put an end to speculation that currently surrounds the digital currency space.
Moving Forward with Digital Currency
Although the digital currency space has been mired in controversy, it is still worth giving it a fighting chance, if those that participate in the space do so responsibly. In their report, “Next Steps for Crypto: Weathering the FTX Fallout,”, authors James Wester and Joel Hugentobler offer their recommendations to eliminate what is currently holding the market back, in order to move forward, post-FTX.