An online coffee store named ‘Coffee Landia‘ announced they will accept Shiba Inu, Bitcoin, and USDT as legal payments on their check-out page. The store hailing from Venezuela is the 117th business establishment in the country to have accepted SHIB as payment.
Watcher Guru reached out to the store and the founder revealed that Venezuela is slowly accepting cryptos for transactions,
“We accept Shiba Inu as a payment method in addition to other cryptos because we have noticed how it has seen significant growth in the world of crypto,” said the founder of Coffee Landia exclusively to Watcher Guru.
However, the online coffee gifting store based in La Victoria Aragua confirmed that they do not have a ‘burn’ mechanism in place and would hold on to the cryptos for the long term. “We currently do not perform token burns. We just receive the currency and hold it,” he said.
The founder stressed the fact that cryptocurrencies are helping revive the Venezuelan economy and the younger generation prefers trading cryptos to goods. In addition, stated that blockchain technology is helping to improve the economy of developing countries and businesses need to stay ahead of the changing financial sector.
“We believe that this can help the economic growth of Venezuela and also of our online store. We are the 117th establishment that accepts SHIB as a payment method in Venezuela.”
The founder is confident that cryptocurrencies are here to stay and will be the future of all transactions. “The blockchain technology is helping to improve the world in many areas and the financial economy will be one. In a few years we believe that the adoption of cryptocurrencies will be very large worldwide. This will benefit faster and safer transactions for both the consumer and the seller.”
Venezuela on a Shiba Inu ‘Accepting’ Spree
Moreover, businesses in Venezuela are accepting cryptocurrencies as payment which includes Bitcoin, Ethereum, Tether, and Shiba Inu. Just recently, a doctor in Venezuela announced accepting SHIB as payment for patients including both online and in-person consultation.
Dr. José said exclusively to Watcher Guru, “Shiba Inu is a very interesting project and is getting accepted as payment by businesses around the world. That is why I decided to incorporate Shiba Inu as a payment method for any of the medical services that we are offering.”
At press time, Shiba Inu was trading at $0.00002347 and is up +0.3% in the 24-hours day trade. The token is down -72.9% from its all-time high of $0.00008616 which it reached in October 2021.