Dubai: The region's first crypto-to-crypto payment gateway for hotels has been unveiled recently in Dubai by The Manor by JA hotel at Al Furjan community. The new  gateway, to be  operated  by Binance, will allow visitors and tourists to pay for their stay using virtual assets  as a safe and  seamless option, alongside traditional methods and supporting the region’s vision for the future of the payment industry.

The announcement has been made during a MoU signing event represented by Mohammed Hanif Al Qassim, Managing Partner of The Manor hotel and Member of the Global Advisory Council at Hospitality Financial and Technology Professionals (HFTP), and Richard Teng, Regional Head of MENA for Binance.

The gateway is accessible through The Manor's official website  (www.jaresortshotels.com), and it adheres to strict security measures and other measures for protecting customers' and business owners' rights equally. Settlements will be facilitated by Binance, the worldwide blockchain infrastructure provider that runs the largest global cryptocurrency exchange. The crypto-to-crypto gateway will support dozens of virtual assets , such as BNB, Bitcoin and Ethereum, through a fast and safe process.

Mohammed Hanif Al Qassim, has indicated that today's world has become more interested in financial  technology and innovative payment solutions. He further stated that the Middle East had become one of the most developed regions in supporting crypto adoption and deployment, at a value of around 272 billion US Dollars in one year only, according to a study developed by Chainalysis. He also indicated that this pioneering step in the hotel and tourism industry complements the future vision of Dubai through its alignment with the Law on the Regulation of Virtual Assets, of which cryptocurrencies are an integral part.

"Virtual Assets go in line with The Manor's vision for sustainability and digital transformation,  considering its position among top eco-friendly boutique hotels in Dubai. Hence, we look forward to  showcasing this initiative at the relevant international platforms and events, including the Hospitality  Industry Technology Exposition and Conference (HITEC®), at which I serve as the first and only Arab  member of its Global Advisory Council," Al Qassim added.

Richard Teng, said: “Binance has been actively engaging established local businesses and institutions to further increase the adoption of crypto for our users and the crypto community as a whole. By accessing Binance’s world-leading robust infrastructure and user experience, businesses and merchants will be  able to provide new opportunities to more customers. Our partnership with leading, innovative businesses, such as JA are in line with our vision to enhance crypto adoption across the region.“

HITEC® event is spearheaded by the HFTP organization, which was established in 1952 as an  international, nonprofit association headquartered in Texas, USA, with offices in the United Kingdom,  The Netherlands, and Dubai. HITEC has been globally known as a specialized Event for the most  innovative products and services in the hospitality industry worldwide.

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