Burger King (BK) is now offering its Royal Perks loyalty members the chance to win a “side of cryptocurrency,” in partnership with Robinhood.
According to vice president of digital guest experience Maria Posada, Burger King is “offering crypto in a way that’s accessible and digestible (literally and figuratively) – through our food,” adding that partnering with Robinhood was a “natural fit.”
Members of BK’s Royal Perks loyalty program that spend at least $5 on the BK app, website or at participating restaurants will be rewarded with cryptocurrency. Eligible Royal Perks members must use the redemption code “My Code” and are limited to one prize code per day. The promotion will run until November 21 or until the 20 Bitcoin, 200 Ethereum and 2 million Dogecoin available are all parceled out.
Those interested in participating in the promotion can join the Royal Perks loyalty program through BK’s mobile app or their website. Then after making a $5 pre-tax purchase, and using “My Code,” users will receive an email with instructions on how to claim the crypto through the Robinhood mobile application. New users will need to create a new account with the trading platform, while existing Robinhood customers can use their own account.
Robinhood’s crypto bump
The promotion is the latest effort by Robinhood to bolster cryptocurrency trading on its platform. After it started offering cryptocurrencies earlier this year, Robinhood reported $231 million in crypto revenue in its second quarter financial results. Some 64% of this revenue came exclusively from popular meme crypto Dogecoin.
However, the company has struggled to keep these numbers up, in the face of stiffening competition. In its third quarter financial results, Robinhood reported a significant drop to $51 million in crypto revenue. This caused its share price to drop 10%, in light of the news. Given its previous success with a Shiba Inu-inspired coin, Robinhood may consider listing the currently trending Shiba Inu (SHIB) token, as legions of its users are requesting.
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