AMC Entertainment Could Issue Its Native Cryptocurrency in the Future

Jafrin  |  Oct 21, 2021

Movie theater chain AMC Entertainment is exploring the possibility of issuing its own cryptocurrency in the future, CEO Adam Aron said.

AMC Could Create Its Own Cryptocurrency

During an interview with CNBC at the Milken Institute Global Conference on Oct. 20, AMC CEO Adam Aron reveals the plan of the company to issue its own cryptocurrency in the future.
“There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency,” adding “We’ve made a lot of noise in the last few months about getting hyperactive in cryptocurrency.”

“That’s just one of half a dozen ideas that we’re working on right now,” Aron concluded.

In August, the firm revealed plans on accepting Bitcoin payments for movie tickets by the end of the year. The following month, it expanded those crypto payment options to include Ethereum, Litecoin, and Bitcoin Cash.

In October, AMC added Dogecoin to the list of crypto payment options following a Twitter poll that Aron created that resulted in 68% voting for DOGE from more than 140,000 participants. On Oct. 6, the company announced digital gift cards that can be purchased with crypto and redeemed for tickets and AMC e-card purchases.

Tackling U.S. Regulators amid Crypto Adoption

AMC Entertainment shot to fame alongside other companies like Gamestop’s GME earlier this year when share prices surged after being pumped by retail traders on Reddit’s WallStreetBets forum.

If AMC launches a crypto token, it would likely attract attention given its popularity. However, issuing such a token could be quite difficult in the United States due to restrictions as regulators had previously made it difficult for Kik, Telegram, and Facebook to launch their own currency.

Despite those challenges, the company will not have any issues accepting cryptocurrency as the theater chain is to accept Bitcoin and other cryptocurrencies as payment by the end of the year.

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