American multinational entertainment giant AMC is extremely excited about blockchain. And the company’s top executives are considering issuing their own digital currency publicly.
During an interview with CNBC on Oct. 20, AMC Chief Executive Adam Aron discussed the company’s crypto ambitions. There are no clear details, but the head of the company commented that
“Over the past few months, we have been talking a lot about the enthusiasm for cryptocurrencies.”
He then discussed the possibility of AMC issuing its own coin, stating: “There are many reasons AMC could be a successful digital currency issuer andIt added that this is just one of many ideas the company is working on right now.
AMC is looking forward to digital assets with interest. by in August The company stated that it intends to build an infrastructure to support Bitcoin payments for movie tickets by the end of the year.
Months later, the theater giant expanded those crypto payment options, which included Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). There is interest in using crypto as a payment method for tickets and benefits at AMC cinemas.
Then, in early October, AMC added Dogecoin to its list of crypto payment options after Aron’s Twitter poll generated 68% of DOGE votes from more than 140,000 participants.
On Oct. 6, the company announced a digital gift card that could be used for crypto purchases and redeemable for tickets. including the purchase of AMC e-cards
However, issuing tokens for US-listed companies may not be an easy task given the growing regulatory hurdles. Social media giants like Facebook are hard at work in this regard. As the various considerations directly affecting cryptocurrency issuance plans continue to rise.
AMC was famous among momentum investors earlier this year. When the stock price surges after becoming the favorite meme stocks of retail traders in the category. Reddit’s infamous WallStreetBets forum, at the time of publication, AMC shares are trading at $40.86, down slightly weekly but up 6.2 percent since early October.
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