• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
cryptodailygists
Advertisement
  • Home
  • Bitcoin
  • Ethereum
  • Dogecoin
  • Blockchain
  • Market Analysis
  • Regulation
  • Business
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Dogecoin
  • Blockchain
  • Market Analysis
  • Regulation
  • Business
  • Contact Us
No Result
View All Result
cryptodailygists
No Result
View All Result
Home Regulation

Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto – Emerging Markets Bitcoin News

admin by admin
March 30, 2022
in Regulation
0
Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto – Emerging Markets Bitcoin News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

122% Rise in 10 Days – Bitcoin News

122% Rise in 10 Days – Bitcoin News

February 8, 2023
3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

February 8, 2023

Bake N More, a Dubai-based cafe, has become the latest company from the region to add cryptocurrency as a payment option. According to the company’s owner, Mohammad Al Hammadi, Bake N More hinted at possible plans to pay employee salaries in cryptocurrency as well.

A Hub for Crypto Users in UAE

A Dubai-based cafe, Bake N More, has become the latest company to add cryptocurrency as another payment option available to customers. Despite taking this step, Bake N More will nonetheless continue to accept cash and credit card payments, the owner said.

According to his remarks published in a report by Khaleej Times, owner Mohammad Al Hammadi suggested the decision to add crypto to the list of payment methods was made in order to expand Bake N More’s reach. Al Hammadi also claimed the decision was because they “want Bake n More to be a coffee and pastry hub for crypto users in UAE.”

Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto

Elsewhere in the report, Al Hammadi is quoted explaining how Bake N More would charge clients that buy a cup of coffee using cryptocurrency. He explained:

Our payment system does the conversion accordingly as it is linked to the price charts. For instance, if a bottle of water cost Dh5 [$1.36], the system divides it by the chart rate, we can assume 3.68, and calculates the cost based on that will be 1.35 UST.

Converting to Fiat

Meanwhile, Al Hammadi revealed that his company is currently storing digital currency and will only engage the relevant exchange platforms when it needs to convert to fiat. He also hinted that his company may in the future pay employee salaries in crypto.

As different authorities in the UAE continue to open up to cryptocurrencies, more companies are embracing them as well. For instance, Bitcoin.com News recently reported that the hospitality brand Stella Stays now accepts cryptocurrency.

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Share76Tweet47

Related Posts

122% Rise in 10 Days – Bitcoin News

122% Rise in 10 Days – Bitcoin News

by admin
February 8, 2023
0

Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average...

3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

by admin
February 8, 2023
0

According to recent court filings, Kyle Davies, co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has allegedly...

MATIC Moves to 10-Month High, ATOM Extends Recent Gains – Market Updates Bitcoin News

MATIC Moves to 10-Month High, ATOM Extends Recent Gains – Market Updates Bitcoin News

by admin
February 8, 2023
0

Polygon rose to its strongest point since last April, as prices rose by as much as 6% on Feb. 8....

Privacy Coin Interest Stays Tepid as Leading Coins Report Modest Gains in 2023 – Altcoins Bitcoin News

Privacy Coin Interest Stays Tepid as Leading Coins Report Modest Gains in 2023 – Altcoins Bitcoin News

by admin
February 8, 2023
0

Over the past 90 days, the top privacy coins by market capitalization have seen an increase of just over $2...

ETH Nears $1,700, Fed Prepared to Maintain Rate Hikes – Market Updates Bitcoin News

ETH Nears $1,700, Fed Prepared to Maintain Rate Hikes – Market Updates Bitcoin News

by admin
February 8, 2023
0

Ethereum closed in on the $1,700 level on Wednesday, as markets reacted to comments from U.S. Federal Reserve Chair Jerome...

Load More
Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
122% Rise in 10 Days – Bitcoin News

122% Rise in 10 Days – Bitcoin News

February 8, 2023
Game Engine Developer Webaverse Suffers A Major Hack

Game Engine Developer Webaverse Suffers A Major Hack

February 8, 2023
3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery – Bitcoin News

February 8, 2023
Indonesian Central Bank To Rollout The Digital Rupiah

Bank of England Denies Digital Pound Similarity to Cryptocurrency

February 8, 2023
cryptodailygists

© 2022 All Rights Reserved Cryptodailygists

Navigate Site

  • Home
  • Bitcoin
  • Ethereum
  • Dogecoin
  • Blockchain
  • Market Analysis
  • Regulation
  • Business
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Dogecoin
  • Blockchain
  • Market Analysis
  • Regulation
  • Business
  • Contact Us

© 2022 All Rights Reserved Cryptodailygists

en_USEnglish
en_USEnglish