S Hotels and Resorts Public Company Limited, the flagship hospitality wing of Thailand’s Singha Estate PLC announces their step into the future, accepting payments in cryptocurrencies.
Moreover, S Hotels and Resorts announced their partnership with FTX, one of the leading cryptocurrency trading platforms in the world, that will enable customers to book and pay for their stays using “virtual online currencies.”
As such, the first properties under the S Hotels and Resorts that will welcome this new change will be the SAii Lagoon Maldives and Hard Rock Hotel Maldives, situated at the first integrated resort island; CROSSROADS Maldives.
Furthermore, the properties will accept payments in cryptocurrencies effective from 01st October 2021. This makes the properties as the very first properties in the Maldives to accept payments in virtual online currencies.
Meanwhile, travel tabloids and blogs report that customers can pay for their stays using USD Coins (USDC) or the popular Tether tokens (USDT). In addition to this, the properties will be looking at all available avenues to increase the payment portfolio by introducing other popular cryptocurrencies as viable payment methods.
Cryptocurrencies have become a popular global phenomenon, especially among younger investors and entrepreneurs. With the introduction of cryptocurrency payment methods, the Maldives tourism expects to drive in new segments of tourists to the country in future.