Two of the most talked-about stories in the financial markets in 2021 are the GameStop Corp (NYSE:GME) short squeeze and the rise in valuation of cryptocurrencies like Dogecoin.
These two worlds are colliding with a payment company that lets you use your cryptocurrencies to make purchases at retailers like GameStop nationwide.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
What Happened: Flexa is a global leader in pure digital payments. The company offers fast payment options and fraud-proof transactions using global currencies, popular loyalty tokens and digital currencies.
Flexa’s SPEDN app gives users the ability to scan a QR code and complete a transaction using their Flexa account balance to pay, with numerous options at checkout.
Dogecoin founder Shibetoshi Nakamoto highlighted recently that Flexa makes payment with Dogecoin (CRYPTO: DOGE) possible at retailers like GameStop, Nordstrom Inc (NYSE:JWN), Petco Health and Wellness (NASDAQ:WOOF) and Lowe’s Companies Inc (NYSE:LOW).
In total, Flexa has 41,336 locations in the United States and Canada where customers can make purchases. Users can transact with cryptocurrencies including Dogecoin, Litecoin (CRYPTO: LTC), Bitcoin (CRYPTO: BTC) and Bitcoin Cash (CRYTPO: BCH).
Did you know you could use Dogecoin to buy things at:
— Shibetoshi Nakamoto (@BillyM2k) May 18, 2021
- GameStop
- Nordstrom
- Lowe’s
- Petco
And many more other stores? This piece of news went pretty unnoticed, but it’s a big deal! :) https://t.co/DXX8qtL0Tz
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
A CoinDesk article named Barnes & Noble and Express Inc (NYSE:EXPR) as retailers where Flexa can be used.
Retailers like Whole Foods, an Amazon.com Inc (NASDAQ:AMZN) subsidiary, Caribou Coffee and Crate & Barrel were listed as Flexa partners by The Verge.
See Also: How To Buy Dogecoin
Why It’s Important: With the rising valuation of Dogecoin and the army of owners and fans of the meme crypto, there has been a push for retailers to accept the cryptocurrency.
Sports teams like the Dallas Mavericks and Oakland Athletics have offered Dogecoin purchase options. Online retailer Newegg is offering users the ability to use Dogecoin for purchases. Hashtags like #acceptdoge and #acceptdogecoin have trended on Twitter Inc (NYSE:TWTR) several times in the last month.
Conagra Brands Inc (NYSE:CAG) launched a marketing campaign for its Slim Jim brand around Dogecoin.
Demand for Dogecoin on crypto trading platforms led to Webull and eToro adding the crypto to their respective platforms.
Coinbase Global Inc (NASDAQ:COIN) recently announced plans to offer Dogecoin on its platform.
Price Action: Dogecoin is trading at $0.336 at the time of writing.
Photo courtesy: EPIC via Wikimedia