What Happened: Sheetz said it will allow customers to pay for items inside the store or at the gas pump using digital currencies, noting that it is the first convenience store retailer to accept Bitcoin. The Pennsylvania-based company, which currently operates 622 stores, is enabling digital currency payments via pure-digital payments network Flexa.
Sheetz will begin accepting digital currencies at select Sheetz Cafe Stores later this summer, with a planned deployment later in the year for acceptance at its fuel pumps as well.
Sheetz customers will also have the option to link their My Sheetz Rewardz loyalty account when paying with Flexa-enabled apps.
Why It Matters: Sheetz joins the growing list of retailers, including Camping World Holdings Inc. (NYSE: CWH) and online tech retailer Newegg Commerce Inc. (NASDAQ: NEGG) that accept payments using digital currencies.
Price Action: Apex cryptocurrency Bitcoin is up 1% during the last 24 hours and is trading at $38,031.66 at press time. Ethereum, the number two coin in terms of market cap, is up 0.8% at $2,706.28 over a 24-hour period.
Meme cryptocurrency Dogecoin is trading 2.7% higher at $0.3421 at press time over a 24-hour period.
