After AMC, Second Largest US Theater Chain To Accept Bitcoin, Dogecoin And More As Payment

Regal Cinema, a subsidiary of U.K.-based multiplex cinema chain Cineworld Group plc (OTC:CNNWF), has become the latest to join the crypto bandwagon.

What Happened: Regal said Tuesday it is partnering with digital payments network Flexa so patrons can pay for movie tickets, popcorns and others using a host of digital currencies.

The digital currencies to be used include cryptocurrencies, including Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH), the native token of the Ethereum platform, Litecoin (CRYPTO: LTC) and Dogecoin (CRYPTO: DOGE).

Regal will also accept digital dollars and stable coins, including USD Coin (CRYPTO: USDC), Dai (CRYPTO: DAI) and Gemini Dollar (CRYPTO: GUSD), as well as digital tokens, including Chainlink (CRYPTO: LINK), Cosmos (CRYPTO: ATOM) and Basic Attention Token (CRYPTO: BAT).

“Regal understands that digital assets are a rapidly growing and increasingly important form of value. By adopting digital currencies for payment in its theatres, Regal is offering more convenience and choice for movie-goers than ever before,” the company said in a statement.

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Why It’s Important: Cryptocurrencies, though going through a consolidation phase, have been on a tear this year. One of the factors that can drive them further is increased mainstream adoption.

Regal has one of the largest and most geographically diverse theater circuits in the U.S., consisting of 6,885 screens in 514 theaters in 42 states along with the District of Columbia and Guam as of Oct. 31. 

AMC Entertainment Holdings, Inc. (NYSE:AMC), the largest theater chain in the U.S., is already accepting Bitcoin, Ethereum, Bitcoin Cash (CRYPTO: BCH) and Litecoin.

After months of teasing, CEO Adam Aron made an announcement to this regard through Twitter on Nov. 11. He also said Dogecoin is likely to be the next to be added. Cryptos already accounted for 14% of AMC’s total online transactions, he added.

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