No, KFC Isn't Accepting Dogecoin Payments - Yum Brands (NYSE:YUM)

Yum! Brands, Inc YUM subsidiary KFC Canada said on social media Wednesday that it accepts Dogecoin (DOGE) in response to a customer query but the restaurant operator wasn't really serious about it.

What Happened: Early Wednesday, KFC tweeted that it accepts DOGE after a customer inquired if they could pay with the cryptocurrency.

KFC’s response was captured as a screenshot and posted on the Reddit forum r/dogecoin by a user with the handle u/AaronGagnon_1983.

A check on KFC’s Canada website revealed that, as of press time, the only means to pay for online orders are credit card and Google Pay, the Alphabet Inc GOOG GOOGL subsidiary Google’s payment app.

The tweet has been since deleted.

Yum! Brands shares rose 3.22% to $124.99 in the after-hours session on Wednesday after closing 1.44% higher at $121.09 in the regular session.

Why It Matters: This is not KFC Canada’s first encounter with cryptocurrency. In 2018, the company launched the “Bitcoin Bucket” in a tongue-in-cheek campaign. The present DOGE tweet also seems to have been made in a similar vein.

Last year, KFC faced criticism after it allegedly exhibited sexism in an advertisement in Australia, which was followed by the company issuing an apology that earned it further criticism.

DOGE has skyrocketed 13,529.56% since the beginning of 2021. At press time the cryptocurrency traded 9.95% lower at $0.60.

Meanwhile, the apex cryptocurrency Bitcoin (BTC) traded 4.33% higher at $57,211.87.

The Shiba Inu-themed cryptocurrency has garnered the attention of social media investors, but also found some love from companies and team sports.

Conagra Brands CAG used “Doge Day” to popularize its Slim Jim snacks. The cryptocurrency has also found support from Snickers and Milky Way candy bar manufacturer Mars Inc.

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