Dogecoin Acceptance on the Rise as More Corporations and Countries Embrace the DOGE

Dogecoin Acceptance on the Rise as More Corporations and Countries Embrace the DOGE

USA News Group – A new law is giving hope in Ukraine to gaining more donations, officially legalizing transactions involving a variety of crypto and digital assets from Bitcoin (BTC) to Dogecoin (DOGE). The move went one step further than El Salvador, which recently legalized only BTC transactions, giving rise to viral photos of receipts from people buying meals from McDonalds Corporation (NYSE:MCD) with BTC. But that wasn’t enough for Tesla, Inc.s (NASDAQ:TSLA) Elon Musk, who famously tried taunting McDonalds into accepting Dogecoin. In the case of DOGE, corporations are beginning to accept it, including theater chain AMC Entertainment Holdings, Inc. (NYSE:AMC) and Petco Health and Wellness Company, Inc. (NASDAQ:WOOF). Both BTC and DOGE require miners to create new supply, and while there are several BTC miners on the market, the first to primarily mine Dogecoin is livestreaming and DOGE mining platform Hello Pal International Inc. (CSE:HP) (OTC:HLLPF).

In May of 2021, Hello Pal International Inc. (CSE:HP) (OTC:HLLPF) made history when it became the market’s first listed company focused on DOGE mining. Reaction to the announcement was swift, causing a surge in traffic so heavy it temporarily caused a website outage.

The popular livestreaming platform allows its users to take part in the mining process by either owning or partly-owning crypto mining rigs.

The decision paid off for Hello Pal and its profitable livestreaming platform, as the addition of Litecoin/Dogecoin mining rigs delivered strong additional revenues. Since then, Hello Pal has continuously added to its fleet of Antminer L7 mining rigs up to its current total of 400.

"Our livestreaming operations continue to deliver strong operating results as we continue to diversify outside of China,” said KL Wong, Founder and Chairman of Hello Pal. “With the acquisition of the highly sought after L7 miners, we are excited to become a North American miner."

Expanding beyond its North American mining operations, and its predominantly Asia-focused livestreaming platform, Hello Pal signed a letter of intent with one of Europe’s largest non-custodial crypto wallet providers by user numbers, UniCrypt.

Based in Switzerland, UniCrypt provides wallet and crypto-based remittance services to more than 14 million clients world-wide.

For Hello Pal, a key advantage to utilizing UniCrypt services is the seamless onboarding of new users due to its efficient and easy to use registration process. This advantage will be crucial in Hello Pals plans to integrate cryptocurrencies into its overall Hello Pal Platform, and especially in its livestreaming services.

As Hello Pals livestreaming operations continue to expand to new markets, the ability to carry out cross-border payments becomes more and more relevant, lending credence to UniCrypt's services leading to a distinct advantage.

"We are tremendously excited at the prospects which this collaboration will bring to our efforts in increasing cryptocurrency usage among not only Hello Pal users, but to the world at large,” said KL Wong. “With UniCrypt's ability to easily onboard new users and generate segregated wallets, we aim to provide many users across the world with their first cryptocurrency experience and introduce them to an international social community with a borderless payments system."

In January of 2022, Elon Musk, CEO of Tesla, Inc. (NASDAQ:TSLA) made headlines tweeting that he would eat a Happy Meal on TV if McDonalds Corporation (NYSE:MCD) begins accepting Dogecoin as a form of payment.

“Dogecoin is the people’s crypto,” said Musk in a Tweet.

While DOGE users can not yet buy one of Musk’s vehicle with “the people’s crypto”, they can use it for some Tesla merchandise, such as the Giga Texas belt buckle and mini models of electric vehicles.

McDonalds has not yet signalled that it will take Musk’s tweet seriously. However rival MrBeast Burger, an American delivery-only fast-food chain run through the ghost kitchen model, jumped to the occasion.

Answering the call, founder and internet personality Jimmy Donaldson (AKA MrBeast) tweeted, “@elonmusk if you retweet this we will work on accepting Dogecoin."  

No strangers to internet popularity and the power of memes, AMC Entertainment Holdings, Inc. (NYSE:AMC) officially began accepting both Dogecoin and rival dog coin Shiba Inu as crypto payments at its theater chains. The largest movie exhibition company in the US, Europe and the world, AMC owns or operates approximately 950 theaters and 10,500 screens globally.

Aron previously announced that AMC accepted four cryptocurrencies: bitcoin, bitcoin cash, litecoin, and ether. However, customers could only pay with those cryptocurrencies through their Paypal accounts.

Since he put up a Twitter poll about dogecoin last September and a subsequent poll for Shiba Inu a month later, CEO Adam Aron has promised the crypto community that his company’s theaters will accept DOGE and SHIB payments. Aron also said in February that the crypto payment option will be live on the company’s mobile apps by April 16 or a few days earlier.

Since May of 2021, Thanks to the use of a smartphone app called SPEDN from cryptocurrency payment processing startup Flexa, pet owners can show their love of dog-themed digital coins by using them to purchase supplies at Petco stores, under parent company Petco Health and Wellness Company, Inc. (NASDAQ:WOOF).

By accepting both Dogecoin and Shiba Inu, Petco now has the ability to incorporate this ability into its marketing campaigns, which it has yet to do.

"Petco is on one of the steepest growth trajectories in all of retail, supported by our position as the only fully integrated provider of pet health and wellness across products, veterinary and services, digital, and in brick and mortar channels," said Ron Coughlin, Chairman and CEO of Petco. "We are defining the future of pet parenting in an incredibly high growth and economically resilient category. Our ecosystem is built to capture the market opportunity and positions us as a leader of what we call Retail 3.0."

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