cryptocurrency payments to be accepted by cinema chain in Thailand

Cryptocurrency Payments to be Accepted at Cinemas in Thailand

Cryptocurrencies, Law and Regulation, News

cryptocurrency payments to be accepted by major Thai cinema chainCryptocurrency payments are to be integrated at a chain of movie theaters across Thailand in a move that will keep you on the edge of your seats. Major Cineplex will be allowing payments in crypto across its cinemas in Thailand in a move to encourage crypto usage in the nation.

The Thai crypto scene has been languishing a little since the move to crack down on ICO projects across the Kingdom and new crypto regulations from the Thai SEC earlier this year, but this new move by Major Cineplex is very encouraging.

Cryptocurrency payments for popcorn and tickets

One of the major gripes from the mainstream in regards to crypto is the lack of options to spend BTC and other coins. The only way crypto will become accepted in mainstream society is if crypto owners can use their coins to purchase everyday things such as movie tickets.

News has just been announced that cryptocurrency payments will be accepted at cinemas owned by Major Cineplex, which is one of the biggest companies of its kind in Thailand. You will be able to use your crypto to purchase services and products at the cinema, tickets for movies, and even popcorn and other snacks.

A partnership has been struck by Major Cineplex and the Swiss payment firm, Rapidzpay, who are going to build a digital payment ecosystem to facilitate the payments.

Over the past couple of months, Thailand had implemented new regulations on the crypto industry that culminated with the Thai Securities and Exchange Commission now accepting license applications. The news was recently circulating that the Thai Bond Market Association (TBM) were originally planning to launch a blockchain-powered solution that was to be built using smart contracts. With this in mind and the new move by Major Cineplex, the Thai crypto scene is now moving forward nicely.

Major Cineplex working with Rapidzpay

The partnership between Major Cineplex and Rapidzpay is very interesting and could spark a change in the philosophy towards cryptocurrency payments and the industry in general across Thailand.

The director of the Major Cineplex Group, Chanya Tamrongweenichai, recently spoke on the partnership by saying that, “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless. You’ll be able to buy any services and products from us, such as movie tickets, popcorn, and other different products with cryptocurrency.”

At the moment, Major Cineplex has yet to announce the coins it will accept for the cryptocurrency payments, but the main frontrunners are the usual suspects such as BTC, BCH, and LTC.

Major Cineplex is the largest theater company of its kind in Thailand and has a total of 490 screens throughout the Kingdom with 16 screens and 5,000 seats alone at the Paragon Cineplex at Siam Paragon in the heart of Bangkok.

With such a massive scope, this move from Major Cineplex to accept cryptocurrency payments at its theaters really could kick-start a crypto movement across Thailand with massive potential to ignite interest in crypto for the masses.

I am very experienced writer/blogger who has been an active member of the cryptocurrency community for several years. I have experience writing for crypto news sites and proactively been involved in the startup of other ICO and crypto ventures over the course of the past four years.

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