- Palazzo Versace Dubai is now accepting bitcoin for goods and services in the United Arab Emirates.
- Customers can pay for events, spa experiences and other services on the site with the Binance app.
- The resort plans to launch online payment integration for bitcoin in the near future.
According to a press release, Palazzo Versace Dubai, a luxury resort in the United Arab Emirates (UAE) is now accepting bitcoin and some cryptocurrencies as payment for services.
The resort has partnered with the world’s largest cryptocurrency exchange, Binance, to allow its customers to pay with bitcoin. Starting September 7, customers can use bitcoin to pay for room stays, restaurants, meetings, events and spa experiences. All guests now have the option to pay at the property using the Binance app.
“We continue to be at the forefront of innovation and growth in the hospitality business,” said Manthar Darvish, Managing Director, Palazzo Versace. “Accepting cryptocurrency as a form of payment is yet another innovative step we have taken towards making our business future-ready”.
The resort will deal with online payment integration in the next phase of launch and is expected to happen “soon”. Following the integration, Palazzo will accept the new form of payment through its e-commerce platform, which enables customers to buy gift cards and browse the flower shop.
Palazzo’s acceptance of bitcoin comes on the heels of financial institutions such as FTX Exchange and Komenu entering Dubai as the region strives to become a hub for digital innovation.
“Palazzo Versace’s ability to now accept payments in virtual assets is a reflection of how the hospitality industry in Dubai is at the forefront of innovation as we move into a more digital world,” said Nadeem Ladki, Binance’s director of the region. Head of Business Development for .
“Payments are just the beginning and we look forward to building this partnership together,” concluded the girl.