New York’s elite fitness facility Equinox will begin accepting bitcoin payments for gym services.
According to an unidentified source, this makes the gym the first in the Big Apple to support digital currencies in its operations. For the new infrastructure, the company will collaborate with BitPay, a famous crypto payment provider.
Customers of Equinox can now pay with cryptocurrency
The move is in line with Equinox’s goal of meeting its members “both physically and digitally,” according to the source. Nonetheless, Equinox has yet to make an official announcement about the decision.
Following the pandemic-driven economic slowdown, many walk-in companies, including gyms, witnessed a significant drop in sales. There has been some recovery, though it has been slow. In comparison to Q1 2019, Equinox announced a 122 percent increase in sales in Q1 2022.
Equinox is allegedly expecting an even higher increase in revenues this quarter, with services starting at $250 and a new cryptocurrency payment mechanism.
With the explosive rise of the cryptocurrency industry in recent years, the number of businesses, organizations, and even cities accepting cryptocurrencies for payment has increased dramatically.
The major European electronics retailer Media Markt and the Australian convenience store chain On The Run are two recent examples (OTR). Customers of the latter will be able to pay for fuel, goods, and services in over 170 company locations across South Australia using digital assets.
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