The Palazzo Versace, a luxury hotel in Dubai, recently announced that it would accept cryptocurrencies for payment of services. According to a story published by Business Traveller (BNB), the Palazzo Versace Dubai started accepting bitcoin, ethereum, and Binance Coin as payment methods on September 7, 2017.
Hotel guests will be able to pay for dining, book stays and spa experiences using their favourite cryptocurrencies through Binance Pay.
Crypto adoption loading…
— Binance (@binance) September 12, 2022
In the report, Binance, one of the world’s largest crypto exchanges, is credited as the “cryptocurrency infrastructure provider” for the hotel, which will accept cryptocurrency payments from guests using its e-commerce platforms to purchase gift certificates and items from its flower shop.
The Expansion of Cryptocurrency in Dubai
Through its acceptance of cryptocurrencies, Palazzo Versace Dubai has joined the growing number of companies operating there that accept cryptocurrencies. The hotel’s managing director and creator of the company, Monther Darwish, says accepting cryptocurrency payments is a good move for the hotel in the future.
— CZ 🔶 Binance (@cz_binance) September 11, 2022
Continuing with his remarks, Darwish added, “We are still at the forefront of the hotel industry’s development and expansion.”. We are also accepting bitcoin payments to prepare our company for growth in the future.”
Moreover, Nadeem Ladki, Binance’s business development head for the Middle East and North Africa, commented on the luxury hotel’s decision to accept cryptocurrency payments, highlighting the hospitality sector’s leadership in accepting these solutions.
Taking payments in virtual assets is just one example of how Dubai’s hospitality sector is at the forefront of innovation in the digital age. “This is just the beginning of our collaboration, and we look forward to expanding it in the future,” Ladki said.