Bitcoin is going Hollywood, as Thailand’s largest cinema chain now lets you buy tickets for the biggest blockbusters with BTC. Major Cineplex is a Thai mainstay, representing the go-to cinema franchise for millions, so for it to implement crypto payments is a huge deal. Under the new partnership with payment service provider Rapidz, customers will be able to buy film tickets and snacks with any Bitcoin they have at hand.
Thailand Steps up to the Plate
Thailand might have a turbulent economic history, but it hasn’t shied away from cryptocurrency – seeing real potential in digital currency payments. The country recently began regulating crypto-focused businesses, while the Thai Securities and Exchange Commission is now accepting license applications from cryptocurrency operators. All this goes to prove – while it’s unlikely to rival Japan as a crypto hub – Thailand is making steps in the right direction.
Driving Forward the Movie Business
Major Cineplex is the biggest movie theatre operator in Thailand. Founded in 1995, it has 143 theaters nationwide, with its biggest presence being in and around Bangkok. According to official Major Cineplex promotional material, the company operates 678 screens, with this including 9 in Laos and 7 in Cambodia. The company has recently stated that it wants to grow this number to 1,000 screens by 2020 – so while cinema businesses in other parts of the world are crumbling, Major Cineplex continues to thrive.
The most famous Major Cineplex is – unsurprisingly – it’s largest multiplex theater. The Paragon Cineplex has 5,000 seats, 16 screens, and even an IMAX theater, with it being an extremely popular entertainment destination in the city. The theater itself is located within the tourist friendly Siam Paragon, a shopping mall that features luxury stores, high-end restaurants, an art gallery, a bowling alley, a concert hall, various karaoke rooms, and an aquarium.
Rapidz Reaches the Main Stage
Major Cineplex lives up to its name, as it delivers a major movie experience. Stepping into the future, the company’s decision introduce cryptocurrency support has been applauded by the digital currency community. The company behind the introduction of the new payment system is Rapidz – a gateway provider based of Switzerland, another emerging crypto-friendly nation.
Rapidz isn’t the biggest crypto payment platform around, but with new partnerships such as this it’s starting to make its presence felt. Through its Rapidzpay app, Rapidz delivers – as the name suggests – a rapid point-of-sale system for predominantly digital currencies, as well as various fiat currencies. Major Group – the parent company of Major Cineplex – has yet to announce what currencies will be accepted outside of Bitcoin. Given that the Rapidzpay app currently has LTC and BCH support, it’s expected that these two cryptocurrencies will also become part of the new service.
Speaking on the decision to adopt cryptocurrency payments, Chanya Tamrongweenichai (Major Group Director of Marketing) said, “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless.”
Thailand’s Digital Makeover
Thailand is changing, as it looks to improve its relationships with the western world. Part of this change is coming about through cryptocurrency acceptance and – more importantly – cryptocurrency adoption. Thailand’s decision to introduce cryptocurrency regulation has been lauded, with seven cryptos in BTC, BCH, ETH, LTC, ETC, XLM, and XRP now tradable in the country.
Open for business and reaching the high street, Thailand has big ideas for cryptocurrency implementation, so Major Cineplex partnership with Rapidz could be the start of something big.