The video-on-demand platform CHILI has partnered with Coinbar, to allow its users to make purchases with Bitcoin (BTC), XRP (XRP), DigitalBits (XDB) and Tether (USDT) using CoinbarPay.
The partnership announcement was made at Blockchain Week Rome 2022, the largest Italian event dedicated to blockchain and cryptocurrencies.
CHILI is a European entertainment company that has developed a proprietary over the top (OTT) platform. It distributes its video and movie platform directly in five European countries – Italy, England, Germany, Austria and Poland, reaching five million registered users in 2021.
“We will be the first OTT platform in Europe to accept crypto payments,” said Giorgio Tacchia, CEO and founder of CHILI. “Whether the Web 3.0 technology revolution will indeed be a paradigm shift for our society is perhaps too early to say; 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 glimpse of the future.”
Coinbar is a financial technology company that aims to bring cryptocurrencies into the real economy, combining a regulated exchange with a network of physical points.
Antonello Cugusi, Coinbar CEO and co-founder, added: “Coinbar is excited to partner with Chili, to bring another concrete step towards adoption: finally cryptocurrencies can be used on a par with traditional payment systems, with a simple and fast crypto payment experience for CHILI customers.
“The new CoinbarPay platform can be easily integrated into all online processes, including POS solutions, allowing multicurrency purchases with the option for settlement in euros for merchants. It is also possible for Coinbar exchange customers to pay instantly with all supported chains, without transaction costs.”
DigitalBits is the emerging cryptocurrency of the four being added by CHILI. Sporting figures such as David Beckham and Francesco Totti, along with sports organisations such as FC Internazionale Milano (Inter Milan) and AS Roma are among the organisations that have voiced their support for the DigitalBits blockchain.
DigitalBits is a layer-one blockchain protocol that prioritises security, speed, and cost savings. Any asset can be tokenised on the eco-friendly DigitalBits blockchain network, including NFTs created by artists, sports organisations and other brands.
The DigitalBits blockchain network’s native digital asset secures the network, enables access to on-chain functionally, and is required to cover nominal transaction fees on the network. DigitalBits is also efficient and cost-effective for micropayments, a key functionality to support real-world mass adoption of blockchain technology and cryptocurrency.