Blockchain-Powered Food Marketplace, Bistroo, Adds More Crypto Payment Options
28 Ottobre 2021 - 2:56PM
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Bistroo, a blockchain-powered takeaway startup, has announced the
addition of more crypto payment options, according to a press
release on October 28th. This peer-to-peer food ecosystem will now
allow merchants to accept payments in Bitcoin (BTC), Ethereum
(ETH), Binance Coin (BNB), Litecoin (LTC) and Bitcoin Cash (BCH).
The additional payment options extend Bistroo’s footprint in the
crypto ecosystem, given that the platform was already supporting
payments through its native token BIST and fiat currencies. Bistroo
is also the pioneer P2P food takeaway platform to embrace crypto
payment options and blockchain infrastructure. The project raised
$8 million back in May 2021 and has been working on expanding its
crypto payment options. As such, Bistroo is currently collaborating
with crypto payments service provider Coinpayments, which allows
customers globally to pay over 100,000 merchants through the BIST
token. With other major cryptocurrencies joining the list, Bistroo
is optimistic about cementing crypto adoption in the food takeaway
business. This decentralized platform only acts as a facilitator by
creating an ecosystem where restaurants and customers can interact
directly instead of going through an intermediary. The firm’s
Co-Founder and CEO Bas Roos commented on the latest milestone, with
an emphasis on the paradigm shift from centralized marketplaces
into protocol economies, “Bistroo is on a mission to set ourselves
up on the global stage with our unique business model. The future
is moving towards a protocol economy where parties can directly
interact with each other, and Bistroo is taking the first steps in
that direction, offering a better value proposition for the food
ordering platform market. “Enabling our users to transact in crypto
is an integral part of that journey,” added Roos. The announcement
also notes that Bistroo will give merchants and customers who use
crypto payments a grace period on commission fees. In doing so,
Bistroo hopes to incentivize more adoption by restaurants and
customers looking to shop or get reviews from food takeaway
platforms. Notably, Bistroo charges a significantly lower
commission fee than its traditional competitors; while the former
charges 5%, fees on third-party food ecosystems can go as high as
15%. Even better, Bistroo gives autonomy back to restaurant owners,
enabling them to customize their menus, access liquidity and offer
customer incentives through the BIST token. So far, the platform
has assisted restaurants in extending their services to about
25,000 customers while processing over $2.3 million in
transactions, according to the live tracker on its website. Going
into the future, Bistroo’s goal is to become the leading PaaS
e-commerce technology, supporting food shops
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