Chili will accept payments in cryptocurrencies- The Cryptonomist

During Blockchain Week Rome 2022, Chili announced the enabling of cryptocurrency payments.

Chili among first digital entertainment platforms in Italy to accept crypto payments

Chili is an Italian video on demand company. Founded in Milan in 2012, it counts 20th Century Fox among its minor shareholders and distributes films and TV series via the internet, similar to how Netflix does it. 

The Chili.com platform is also active in England, Poland, Germany and Austria, as well as Italy, and also offers a DVD and Blu-Ray catalogue. 

As of 15 June, it will allow the purchase of films and TV series in BTC (Bitcoin), USDT (Tether), XRP (Ripple) and XDB (DigitalBits). 

Chili founder and CEO Giorgio Tacchia said: 

“We will be the first in Europe to accept crypto payments from users who purchase films on the platform. The company will also accept payments in crypto from companies that want to buy media and advertising space. Whether the Web 3.0 technology revolution will indeed be a paradigm shift for our society is perhaps too early to tell; however, it is a phenomenon that cannot be overlooked.

Many users, business customers and investors today need to pay with this new currency, and CHILI has always been a pioneer in offering its customers a window into the future”.

The benefits of implementing crypto

Thanks to this integration, holders of cryptocurrencies such as BTC and USDT will be able to purchase films and TV series on demand using them as a means of payment on Chili’s platform. It is possible that in the future, other similar platforms may also decide to start accepting crypto, especially given the difficult economic and financial times they are going through, first and foremost Netflix itself. 

To be able to offer its customers cryptocurrency payments, it has partnered with Coinbar, an Italian crypto exchange that also includes a network of physical points. 

In fact, to make cryptocurrency payments on Chili.com it will be necessary to use the services of CoinbarPay, which is integrated within the platform as a payment method. 

Already last year, Coinbar announced the launch of its Coinbar Business service, which allows merchants to accept cryptocurrency payments securely and in compliance with Italian regulations. 

Coinbar co-founder and CEO Antonello Cugusi added:

“Another concrete step towards adoption: crypto can finally be used on par with traditional payment systems, with a simple and fast experience.

The new CoinbarPay can be easily integrated into all online processes, including POS solutions, allowing multicurrency purchases with the possibility of settlement in euros in favour of merchants. Coinbar customers can also pay instantly with all supported chains, without transaction costs”.