crypto caps – Dubai is known for its modern architecture, luxury shopping, but this city in the United Arab Emirates is also developing 3.0 assets. It could particularly attract cryptophiles who want a good coffee or pastries with a taste of cryptocurrencies.
Crypto discussions at Bake n More in Dubai
Dubai-based Bake N More cafe now accepts cryptocurrency payments. Adding this payment option will allow the establishment to attract a specific clientele. The owner of the cafe, Mohammad Al Hammadi, indicated that the company wants “Bake n More to be a coffee and pastry hub for crypto users in the UAE.”
The coffee will keep cryptocurrencies in its balance sheet. It will only convert them into fiat currencies via cryptocurrency exchanges when the need arises. Mohammad Al Hammadi also indicated that coffee could in the future, pay the salaries of its employees in cryptocurrency.
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Sound Crypto Regulation in the UAE: More Customers for Bake n More
The crypto ecosystem in the United Arab Emirates benefits from the support of the authorities who are working to put in place regulations favorable to the development of the blockchain industry and cryptocurrencies.
The United Arab Emirates Securities and Commodities Authority is indeed working on a law that will allow crypto players to obtain a federal license.
The Financial Services Regulatory Authority in charge of regulating theAbu Dhabi Global Market wants to promote non-fungible tokens (NFT).
The restaurant industry is a sector that is contributing to the growing adoption of cryptocurrencies by the general public. Bitcoin (BTC) and cryptocurrencies in general invite themselves to coffee tables like Bake N More, as well as to those of a Michelin-starred restaurant.
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