Main cinema theaters in Thailand starts accepting cryptocurrencies

Visitors of Major Cineplex movie theater soon can use cryptocurrencies to pay for the cinema services. Movie tickets and popcorn soon can be billed with BTC, BCH, and LTC via Rapidzpay mobile app. These are cryptocurrencies available now in the app, however, what exact currencies Cineplex will implement is not known yet.

Darling forgot his money? not a problem, pay with cryto!

Darling forgot his money? not a problem, pay with cryto!

Major Cineplex, the leading cinema chain in Thailand, in June has partnered with Swiss payment company Rapidzpay to develop a digital payment platform. The payment system will accept both fiat and cryptocurrencies. Major Cineplex, founded in 1995, now has 143 cinemas in Thailand and 678 screens in total, including Cambodia and Laos. The company wants to reach 1000 screens by 2020.

"Adding crypto payments into traditional payment scenarios will make the payments for services and products more seamless and secure, as well as allow Thai financial ecosystem to become cashless"

Major Cineplex representatives comments.

Remarkably, last month, Thailand Securities and Exchange Commission (SEC) has developed a framework that regulates ICOs, cryptocurrency exchanges, and brokerage institutions. Seven cryptocurrencies obtained trading permissions, including bitcoin, ethereum, bitcoin cash, ethereum classic, litecoin, ripple, and stellar. All Thai registered crypto firms now have to apply for licenses and obtain the permission of Finance Ministry in order to carry out digital asset business activity.