For the first time, cryptocurrency transactions were initiated in the Maldives on Friday.
S Hotels & Resorts began accepting cryptocurrency, a digital payment option, at SAii Lagoon and Hard Rock Hotel in Crossroads Maldives.
The company is one of the world’s first hotel chains to accept cryptocurrency as legal tender. S Hotels & Resorts noted in a statement that the choice will be crucial in upgrading the tourism sector and servicing new generations in the sector.
S Hotels & Resorts and FTX, a cryptocurrency trading platform, collaborated to launch the service. With the start of the new service, digital currencies will be accepted at SAii Lagoon and Hard Rock Hotel.
Currently, the two resorts accept USD Coin (USDC) and Tether (USDT), but the company plans to add more digital payment alternatives in the future.
Cryptocurrencies have begun to be utilized in a number of nations across the world.