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Slake IT LLC on Monday launched a food-delivery app that enables consumers to pay for orders using cryptocurrency in addition to credit cards. The company, which is supporting the Ethereum platform to enable crypto payments, has partnered with drivers of multiple food-delivery companies, including DoorDash, Uber Eats, and Grubhub, to facilitate delivery of orders from restaurants within three miles of a consumer’s location.
The Slake app, available on the iOS and Android operating systems, offers up to three delivery options that enable consumers to see the estimated time of arrival of their order, service fees, and the minimum order amount before the order is placed. The global food-delivery industry is projected to reach $223.7 billion by 2027, according to Statista.
To differentiate itself from competing—and better-known—food apps, Slake plans to add loyalty rewards and reservations and implement its own blockchain technology to further streamline transactions and reduce costs. The $SLAKE token is the native cryptocurrency of Slake, the company says.
“From the convenience of your own couch, you can order food from almost any nearby restaurant within three miles. Because we have partnered with the drivers of multiple food-delivery companies … Slake offers more food choices, delivery options, and competitive pricing,” chief executive Nelson Cruz says in a statement.
In other crypto-related news, Visa Inc.’s partnerships with multiple cryptocurrency exchanges have yielded more than $3 billion in payment volume since 2021 through Visa’s network of about 80 million merchants, according to Cointelegraph, a specialist publication covering cryptocurrency.
Visa has partnerships with 75 of the largest cryptocurrency exchanges that allow the exchanges to issue Visa-branded cards, Akshay Chopra, Visa’s vice president and head of innovation and design told a Cointelegraph reporter during a panel discussion at the Blockchain Economy Dubai Summit Friday.
The partnerships were struck as part of a strategy to make cryptocurrency a ubiquitous payment option for consumers that prefer to pay using cryptocurrencies on a Visa card, according to Chopra. In 2021 alone, those partnerships generated $1 billion in payment, Chopra adds.
