Cinema chain AMC plans to launch its own cryptocurrency

AMC is studying the idea of ​​issuing its own cryptocurrency

During a long interview with our colleagues at CNBC, Adam Aron, CEO of the AMC cinema chain, hinted that the American group could launch its own digital currency in the years to come.


Adam Aron Interview Part 1

– Antonio Martinez (@AntonioTheMexi) October 19, 2021

“There are a lot of reasons why AMC could be a successful cryptocurrency issuer,” says Adam Aron.

The head of AMC has not said more about this project, which still seems to be in its infancy. He also specifies that these are only “half-dozen ideas that we are working on at the moment”. So do not expect the AMC token to emerge in the near future.

👉 Read also: The first television series dedicated to cryptocurrencies is in production

AMC confirms its interest in the cryptocurrency sector

AMC has never hidden its growing interest in digital currencies. As Adam Aron notes, the 1980-born media group has “made a lot of noise over the past few months” about its “cryptocurrency hyperactivity.”

The largest movie theater chain in the United States revealed some of its ambitions in the digital assets sector as early as last summer. AMC first committed to accepting Bitcoin (BTC) payments in its theaters by the end of 2021.

Soon after, the business opened up to three popular altcoins: Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). More recently, the entertainment giant has taken to accepting Dogecoin (DOGE) as a payment method for gift cards. In order to put in place the necessary payment infrastructure, AMC turned to Bitpay, the famous payment service provider.

Before issuing its own cryptocurrency, AMC will need to obtain the necessary approvals from financial regulators in the United States. The issuance of a token, whether it is a stablecoin or other digital asset, is indeed strictly regulated. It is this rain of regulatory obstacles that prompted Facebook to postpone the launch of Diem, its own cryptocurrency.

Anyway, the ambitions displayed by AMC show that crypto-assets are democratizing at high speed. Moreover, AMC is not the only entertainment giant to show itself in favor of digital assets. Last May, Fox Entertainment set up Blockchain Creative Labs to create NFTs based on its shows.

👉 On the same subject – Philipp Plein becomes the first luxury clothing brand to accept cryptocurrencies

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About the author: Florian Bayard

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