Washington, DC-based Compass Coffee, a veteran-owned business, has announced that it will integrate Coinbase to enable its customers to make cryptocurrencycurrency purchases.
Coinbase and Compass employ coffee mugs with eye-catching messaging to teach customers about the benefits of cost savings.
According to Fox Business report, Customers who pay with USDC at Compass Coffee’s Half Street location can receive up to 90% off their orders. Customers can also acquire NFT, which can then be redeemed for a complimentary coffee tin with the Compass and Coinbase logos.
Transaction costs for US retailers processing credit card payments are estimated to cost around $126 million in 2022, which is 2.5 times the country’s total coffee shop market.
The coffee cups show how blockchain technology might reduce these transaction fees by more than 99%. Compass Coffee has reported that the additional fees imposed by credit card issuers cost it approximately 3.75% of its earnings.
“Our partnership with Compass is a good pilot to show how stablecoins can simplify finance and save small businesses thousands of dollars on unnecessary credit card fees,” says Faryar Shirzad, Chief Policy Officer at Coinbase.
While large corporations such as Starbucks, Subway, and AMC Theaters have begun to accept Bitcoin and Ethereum payments, many smaller businesses, particularly local establishments, are cautious about using cryptocurrencycurrency.
Read also: PEPE Coin Sees Surge After Coinbase Announces Perpetual Futures Listing
