According to a press release, Palazzo Versace Dubai is now accepting Bitcoin and other cryptocurrencies as payment for services in the United Arab Emirates (UAE).
The resort now allows customers to pay with Bitcoin due to a partnership with Binance, the largest cryptocurrency exchange in the world. Since September 7th, guests may use Bitcoin to pay for hotel stays, meals, events, meetings, and spa treatments. The Binance app is now an available payment option for all visitors.
Managing Director of Palazzo Monther Darwish states that the resort continues to be at the forefront of development and expansion in the hospitality industry. “Accepting cryptocurrencies as payments is yet another innovative step that we have taken towards making our business future-ready,” he adds.
The resort will integrate internet payments during the upcoming launch phase, which is anticipated “soon after.” Once the integration is complete, Palazzo will accept Bitcoin and cryptocurrencies as payment through its e-commerce platform, which also allows shoppers to explore the resort’s flower shop and buy gift cards.
Financial organizations like FTX exchange and Komainu have recently begun operations in Dubai as it strives to become a center for digital innovation. Palazzo is the latest to begin accepting Bitcoin.
Nadeem Ladki, Head of Business Development for Binance in the region, stated:
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.
Ladki concluded that Palazzo anticipates developing their partnership with Binance beyond payments in the future.