- The Palazzo Versace Dubai now accepts bitcoin for goods and services in the United Arab Emirates.
- Customers can pay for events, spa experiences, and other on-site services with the Binance app.
- The station plans to launch online payment integration for bitcoin soon.
Palazzo Versace Dubai, a luxury resort in the United Arab Emirates (UAE), now accepts bitcoin and some cryptocurrencies as payment for services, according to a press release.
The complex has partnered with Binance, the world’s largest cryptocurrency exchange, allowing its customers to pay with bitcoins. As of September 7, guests can use bitcoin to pay for room stays, restaurants, meetings, events, and spa experiences. All customers now have the option to pay locally using the Binance app.
“We continue to pioneer innovation and growth in the hospitality industry,” said Monther Darwish, managing director of Palazzo Versace, according to the statement. “Accepting cryptocurrencies as payments is another innovative step we’ve taken to prepare our business for the future.”
The next phase of the launch will see the station tackle online payment integration and is expected “soon after”. After the integration, Palazzo will accept the new payment method through its e-commerce platform, which also allows customers to purchase gift cards and browse its flower shop.
Palazzo’s acceptance of bitcoin follows the entry of financial institutions such as FTX Exchange and Komainu into Dubai as the region attempts to become a hub of digital innovation.
“Palazzo Versace’s ability to now accept payments in virtual assets reflects how the hospitality industry in Dubai is at the forefront of innovation as we move into a more digital world,” said Nadeem Ladki, Head of of Binance’s business development in the region. .
“Payments are just the beginning and we look forward to growing this partnership together,” Ladki concluded.