Restaurant giant Landry’s will partner with New York Digital Investment Group (NYDIG) to launch a Bitcoin loyalty rewards program, the group announced on Tuesday, November 9th.
The report says the program will allow Landry’s Select Club members to access Bitcoin points while dining at any of Landry’s locations, with Landry hoping to bring the program live before Thanksgiving.
The current rewards program offers an offer of 1 point back for every US dollar spent, and 250 points would offer a reward of US $ 25.
Landry’s says it will invest in Bitcoin through NYDIG’s institutional custody solution, which would mean holding some of its own treasury reserves through NYDIG.
“Customers who choose the new Bitcoin loyalty program can receive points that track the value of Bitcoin and can be redeemed in $ 25 reward increments based on the market price of Bitcoin at the time of redemption,” the company told CNBC . “All Bitcoin loyalty points can only be redeemed for Landry’s Select Club rewards and are not transferable outside of Landry’s Select Club.”
Trey Zeluff, Landry’s digital asset strategy director, said that since the company sees Bitcoin as a “good choice” for its own needs, it will offer it to its customers.
In other news, the city of Miami plans to distribute Bitcoin for citizens, with Mayor Francis Suarez doing everything possible to get crypto payments rolling in the city, according to a report by Bitcoin Magazine.
Suarez announced the new development on Thursday (November 11th) in a CoinDesk TV interview.
Suarez was a strong supporter of crypto and wanted to build a Bitcoin economy in the densely populated city of Florida. Last week he also announced that he would get his salary in Bitcoin.
When asked if Bitcoin could be used as cash and as a tax payment method, Suarez confirmed that this was the idea as he “very quickly” sees a world where Bitcoin can be used for payments.
“We need the people who understand that Bitcoin is growing in value and yes, we want you to hold Bitcoin,” Suarez said in the report. “But at the same time we have to increase the usefulness of Bitcoin, which adds even more value and also creates more functionality so that people can honestly be in a better currency.”
Additionally, Suarez says he wants employees to be paid in Bitcoin and residents to be able to pay city fees and taxes.
The city also plans to launch a Bitcoin digital wallet to store Bitcoin, earned by staking MiamiCoin, the name of the crypto created for the city, on the Stacks blockchain protocol.
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NEW PYMNTS DATA: WHAT UK CONSUMERS EXPECT FROM THEIR FOOD SHOPPING
About: Forty-four percent of UK grocery shoppers spend more in grocery stores when they have access to loyalty programs, and an equal proportion say that the existence of loyalty programs alone determines where they shop. What UK Consumers Expect from Their Shopping Experience surveyed 2,501 UK consumers to find out how retailers can best use loyalty programs to increase their spending and attract new customers.
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