Mohammad Al Hammadi also hinted that his company may, in the future, pay employee salaries in crypto. cryptosalary
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.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.
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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