A 5-Star Hotel in Dubai and a Ukrainian Supermarket Chain – The Latest to Embrace Crypto Payments
- Latest crypto adoption includes a 5-star hotel in Dubai and a Ukrainian supermarket chain
- Know the cryptos and exchange that have been adopted
Palazzo Versace now accepts crypto payments
Dubai’s ultra-luxury hotel, Palazzo Versace, in an official press release dated September 5, 2022, informed the acceptance of payments for hotel services, in select cryptocurrencies BNB, Bitcoin and Ethereum . Binance was chosen to facilitate this new payment option.
Palazzo Versace Official Statements:
“The ultra-luxury property located at Jaddaf Waterfront has partnered with Binance, the world’s largest cryptocurrency infrastructure provider, to offer customers the ability to settle payments in various cryptocurrencies such as BNB, Bitcoin and Ethereum. These transactions will take place through the Binance gateway »
“Customers can now pay for room stays, restaurants, meetings and events, all customers will have the ability to pay on the spot using the Binance app.”
The release also says the hotel will accept crypto payments for items such as gifts and merchandise on its e-commerce store.
Dubai established its Virtual Assets Regulatory Authority (VARA) last March.
Ukrainian supermarket chain Varus accepts crypto payments
Varus is the first European supermarket to accept Binance Pay. Based in Dnipro, a city in central Ukraine, Varus operates 111 stores, including stores in 9 cities in Ukraine. The store uses the Binance gateway to facilitate payments.
Now customers in 9 Ukrainian cities will be able to pay for groceries and other items using digital currencies. Cities include Kyiv, Dnipro, Vyshorod, Zaporizhzhia, Kryvyi Rih, Nikopol, Kamianske, Pavlograd and Brovary.
Foxtrot, another Ukrainian retailer specializing in electronics, accepted crypto payments in August using Binance to enable transactions. Recently, two more Ukrainian tech retailers Stylus and Techno Їzhak started accepting crypto payments. In total, these two retailers have more than 100 stores in Europe
Another notable crypto development in the country to defend against a Russian invasion is the sale of non-fungible or NFT tokens to raise funds for the Aid For Ukraine campaign. The government uses war-torn areas for inspiration in art to create NFTs that are sold. Over $1.2 million has already been raised. NFTs can only be traded using cryptocurrencies. The war effort in Ukraine is funded with cryptocurrencies by the government and private entities.
Europe and North America lead the world in crypto adoption, while few countries on other continents have yet to put in place similar infrastructure and laws to facilitate cryptography. mass adoption of payments. Despite cases like SEC v Ripple Labs Inc. making the future of crypto uncertain, the United States has a remarkable infrastructure for crypto transactions.