The Dubai Hotel Accepts Crypto Payments, Here’s What We Know
Dubai hotel, The Manor Hotel by JA is now accepting crypto payments. After their partnership with Binance, now guests can use Binance coin (BNB), Bitcoin (BTC) or Ethereum (ETH) to pay for the hotel fare. The hotel has joined the payment gateway which is managed by Binance to facilitate these asset payments.
This crypto payment gateway that Binance has created will be accessible through the hotel’s website. The official website of the hotel states that it ‘adheres to strict security measures for protecting customers’ and business owners’ rights equally’.
Mohammed Hanif Al Qassim, the managing partner of the Manor Hotel stated,
Virtual assets go in line with The Manor’s vision for sustainability and digital transformation, considering its position among top eco-friendly boutique hotels in Dubai
This move by The Manor Hotel signifies that these digital assets are now being quickly integrated with different sectors and also with the global economy collectively.
Binance Has Been Actively Working Towards Increasing The Adoption Of Crypto
Dubai especially has been engaging to establish local businesses that adopts the digital asset for the users in order to empower the crypto community.
Apart from ensuring that these payments comply with security measures and the protection of consumers along with safeguarding business owner’s rights, Binance has been working hard to secure a foothold in the Middle Eastern region.
Richard Teng, The Regional Head of Binance in the Middle East and North Africa (MENA), quoted,
Binance has been actively engaging established local businesses and institutions to further increase the adoption of crypto for our users and enable the community as a whole. Our partnership with leading, innovative businesses, such as JA are in line with our vision to enhance crypto adoption across the region.
Many other Dubai food and beverages service operators have started integrating crypto payments over the past few months.
As the regulatory framework starts to provide more clarity, there remains a high possibility that many other service operators might join the crypto bandwagon.
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Increasing Acceptance Of Cryptocurrencies In The Recent Times
More businesses in the service sector especially have been opting for payments through cryptocurrency. Luxury and supercar distributor, EuroSports Global has started to accept the digital asset for goods.
EuroSports Global stated that customers will be allowed to pay for Lamborghini and Alfa Romeo car with the digital currency. This luxury car distributor has chosen to collaborate with FomoPay to enable these digital asset payments. The accepted coins are Bitcoin, Ethereum, USD Coin (USDC) and Tether (USDT).
Apart from these companies, the AMC theatre chain has recently tied up with BitPay which allows customers to purchase tickets using Dogecoin. Previously, AMC theatres accepted Bitcoin and Ethereum payments through Paypal.
Certain hotels reportedly are planning to accept non-fungible tokens (NFTs) as they want to avoid holding onto unnecessary inventory in case the hotel guest decided to cancel their booking near their booking date.
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