- Switzerland’s pro-crypto legislation has prompted the company’s decision.
- On June 30th, FIVE Zurich will open its doors and begin accepting crypto payments.
FIVE Hotels and Resorts, a Dubai-based hospitality firm, has announced that it would now accept Bitcoin and Ethereum as payment for its services. Switzerland’s pro-crypto legislation has prompted the company’s decision, which is linked to the company’s recent expansion effort.
It has always been the company’s goal to be at the “forefront of blockchain and cryptocurrency innovation,” according to Mushal Nisthar, director of revenue for the firm. Swiss expansion enables it to accept payment in the two most prominent digital currencies.
According to Mushal:
“Switzerland has always been at the forefront of fintech and cryptocurrency. FIVE Teams have worked with partners to ensure the best payment features are on offer for guests, allowing them to pay in Bitcoin and Ethereum.”
Crypto Payments at New Zurich Location
One of the company’s two branches in the area is FIVE Palm Jumeirah and FIVE Jumeirah Village, respectively. Now, FIVE Hotels & Resorts is going to establish a new location in Zurich, Switzerland, and this time, it will be a resort of one of a kind. The new Zurich location will take crypto payments, namely Bitcoin and Ethereum. On June 30th, FIVE Zurich will open its doors and begin accepting cryptocurrency payments.
The hotel’s decision to start accepting cryptocurrency isn’t without substantial thinking. Firstly, most of the hotel’s guests are under 35, comprising 78% of the total. People in this age range hold around 60% of the cryptos.
First and foremost, FIVE Hotels & Resorts is establishing itself as an industry leader by accepting crypto payments from its most loyal clients. The latter is most likely to use innovative technology and business models.