US-based Absolute Production Services has announced it will be the first corporate event production company to accept cryptocurrency as payment for services. By working with fellow Chicago-based company, CoinFlip, Absolute will be able to expand and innovate its offerings to the events industry.
Charlie Nicosia, owner and president of Absolute, said: “Making the move to accept crypto is a no-brainer for us. We’ve been around for 26 years and had to innovate and pivot several times. From the post-September 11 era to the financial crisis of 2008 to the last 20 months of surviving a pandemic.”
Nicosia adds that owing to the changing nature of the events industry in the last 20 months: “We have to be prepared for anything and everything, and by accepting crypto, we can do just that.”
As of December 2021, Absolute will leverage CoinFlip’s Trade Desk, an over-the-counter cryptocurrency trading service, to process payments from clients. The platform allows users to buy and sell over 40 cryptocurrencies of any dollar volume.
Kristoffer Dayrit, co-founder and president of CoinFlip, stated: “As crypto adoption continues to become mainstream, it’ll be crucial for businesses to find reliable partners and solutions. CoinFlip can convert cryptocurrency payments into cash quickly and for less than the average credit card processing fee. Working with creative, experienced, and knowledgeable companies like Absolute aligns with our goals and mission of providing safe and secure access to digital financial services”