Bahrain hotel to accept cryptocurrency payments

A serious resort within the Bahraini capital, Manama, introduced Sunday that it’s going to begin accepting cost in cryptocurrency. 

The beachside Novotel Bahrain Al Dana Resort signed an settlement with the Bahraini cost providers agency EazyPay. Per the deal, EazyPay will present Novotel with cost expertise that may settle for cryptocurrencies. EazyPay’s crypto cost providers are enabled by the worldwide crypto agency Binance’s cellular app, in line with a press launch. 

Novotel Bahrain Al Dana Resort seems to be the primary resort within the nation to simply accept cryptocurrency funds. The Dubai inns Palazzo Versace and The Manor by JA Lodge introduced final yr they’d begin taking funds in crypto. 

Why it issues: The Novotel announcement is the newest instance of cryptocurrency’s development in Bahrain. In December 2022, the Bahraini telecom operator stc Bahrain mentioned it could begin accepting cryptocurrency for funds. In November, Bahrain’s Carlton Actual Property mentioned it could start permitting crypto funds in partnership with CoinMENA. 

EazyPay acquired its authorization from the Central Financial institution of Bahrain to conduct crypto funds final September. The corporate launched a partnership with Binance for operations in Bahrain on the time. 

The Central Financial institution of Bahrain issued rules for cryptocurrency-related actions again in 2019. For comparability, the United Arab Emirates issued its digital belongings rules in 2022. 

Know extra: The cryptocurrency crash has considerably affected Bahrain and the UAE specifically. Sam Wendel wrote for Al-Monitor PRO final November that the 2 Gulf international locations’ cryptocurrency aspirations are distinctive given the main losses crypto corporations and cash sustained previously yr.