Paytaca To Launch Bitcoin Cash-Powered Vending Machine in Tacloban

Share some Bitpinas love:

Wanting to buy snacks using Bitcoin Cash?

Philippine-based fintech firm Paytaca, Inc. announced its newly installed Bitcoin Cash (BCH)-powered vending machine in Tacloban City. This might be the first known vending machine that accepts crypto as payment in the country.

In a Twitter post, Paytaca advertised their newly installed vending machine by saying: “Come to our launch and experience the utility of peer-to-peer electronic cash.”

The concept is just as other vending machines, where one can buy the goods they want, whether a soft drink or a snack, but the difference is that this vending machine only accepts Bitcoin Cash.

Bitcoin Cash-powered Vending Machine in Tacloban

Paytaca explained that the hardware of the system is Raspberry Pi while the software is customized.

Bitcoin Cash-powered vending machine by Paytaca in Tacloban

“The internal wallet in the machine can be linked to a Paytaca wallet where all the payments are received. The software includes an admin panel where the inventory of items can be updated,” the wallet provider added.

As of writing, 1 BCH is equivalent to 6,938.64, according to the data from Google Finance.

Just last May, the fintech firm said it has successfully secured more than ₱7.5 million in equity-free pre-seed funds through a decentralized crowdfunding platform.

The acquired funds will be used to finance the firm’s future endeavors once it accomplished its initial plans to secure a Virtual Asset Service Providers (VASP) license from the Bangko Sentral ng Pilipinas (BSP) to offer fiat on-ramp/off-ramp. Paytaca also plans to partner with a licensed entity to allow them to issue or use a PHP stablecoin.

The said Tweet attracted some positive insights about the initiative of Paytaca.

A Twitter user stressed his amusement by emphasizing that BCH usage is not dominant in the country.

Which Paytaca replied with a quote: “We’re here to change that.”

Another user also left his comment: “This is a revolution! Love the “Making crypto usable” phrase!”

And when another user asked, “Wen in Manila or Quezon City?” Payataca answered, “Soon!”

This article is published on BitPinas: Paytaca To Launch Bitcoin Cash-Powered Vending Machine in Tacloban

Share some Bitpinas love:

Crypto and Web3 Jobs Philippines

New on BitPinas: Web3 and Crypto Job Portal

Fastbreak News:

Follow on social and subscribe to our newsletter