Stc Bahrain, a subsidiary of the Bahrain telecoms operator Stc Group, recently said its partnership arrangement with payment service provider Eazy Financial Services has created an opening that allows clients to pay bills using crypto. According to a statement, the telecom operator’s move demonstrates its “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.”

‘Rapid Digitization Across the Globe’

The Bahrain telecom operator, Stc Bahrain, recently revealed in a statement that it now accepts cryptocurrencies, ostensibly making it the first in the kingdom to do so. The statement also said the company teamed up with the payment service provider Eazy Financial Services. This partnership allows the Stc Bahrain’s customers to settle their bills using the Binance wallet, the statement added.

Commenting on the partnership with Eazy Financial Services, Nezar Banabeela, the CEO of Stc Bahrain, said:

Rapid digitization across the globe is transforming all aspects of our lives, and payments are the most crucial element. From online shopping and streaming videos to money transfers, almost every digital activity relies on a payment system.

Banabeela also claimed the telecom operator’s move to accept crypto payments demonstrates Stc Bahrain’s “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.” In addition, the CEO said his company plans to make the acceptance of crypto “a seamless process and increase adoption as crypto is the future of payments.”

Meanwhile, the founder & CEO of Eazy Financial Services, Nayef Tawfiq Al Alawi, claimed that the partnership arrangement makes it possible for the telecom operator to accept cryptocurrency payments but “in a regulated, secure and extremely fast manner.”

For his part, Tameem Al Moosawi, the general manager at Binance Bahrain, commended Stc Bahrain for taking the initiative and for potentially setting the benchmark for telecom operators that want to transition to the Web3 economy.

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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.”

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.

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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.

A hospitality brand from the United Arab Emirates(UAE), Stella Stays, has announced that its clients can now pay for services with cryptocurrencies. Clients can pay with bitcoin, ethereum, and 35 more digital assets.

Stella Stays’ Tilt Towards ‘Futuristic Tech Offerings’

The UAE-based hospitality brand Stella Stays now accepts cryptocurrencies via its e-commerce platform, a report has said. According to the report, the company’s guests can now pay with bitcoin, ethereum, and 35 other cryptocurrencies.

Following the announcement, the company’s CEO and co-founder, Mohannad Zikra, is quoted in one report explaining why Stella Stays has decided to accept digital currencies. He said:

Accepting cryptocurrency payments is a pioneering step for the hospitality industry in the Middle East. Being first to market with this offering gives us an edge as an early adopter. We are excited to offer this advancement into cryptocurrency and deliver a revolution to our digital-savvy customers.

Zikra added that since his company is continuously attempting to offer its customers “the best guest experience” accepting cryptocurrencies marks the beginning of Stella Stays’ tilt towards “futuristic tech offerings.”

Meanwhile, a report by Unlock Media said “14% of guests landing on [Stella Stays’] payment page have clicked on the crypto payment tab.” About 28% of these guests have asked for more information that enables them to complete transactions with crypto payments, the report added.

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

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.