In Spain, the city Sevilla is becoming a Crypto-friendly city, with two prominent local hotels announcing that they will start accepting Crypto payments. Hotel Becquer and Hotel KiVir began to allow their customers to book rooms using digital assets. These two significant hotels started accepting Crypto payments in the wake of the Covid-19 crisis.
Hotels to receive 100% funds in Fiat Euros
According to the statement given by Diario de Sevilla, both the hotels signed their partnership agreements with the domestic exchange Criptan to enable the Crypto payment gateway to their customers. Becquer hotel with 134 rooms located at Marquises of Las Torres. Hotel Kivir has 31 rooms and based in the city’s old town.
Since these four-star hotels having a partnership with the exchange, Criptan has increased its portfolio of retail stores. It is also expanding in tourism businesses across Spain that accept Cryptos such as Bitcoin as a means of payment. Alejandro Rodriguez, the general manager of both hotels, is very optimistic about these extensive future adoptions of cryptos.
Since the coronavirus pandemic heavily hits the tourism sector. It is also significant that the tourism sector is one of the first sectors to adopt this new payment methodology representing the economy at a national and international level. There are much more possibilities for cryptocurrency use globally. According to the agreement, Criptan will process all the payments for both hotels, and they will receive 100% of the money in fiat euros.
Pandemic is driving the Hotel Administration to target Crypto users.
According to Criptan’s representative’s integrations of hotels follows the European regulation PSD2 of electronic payment services. The PSD2’s objective is to increase security in Europe and promote innovation to favor the adaptation of banking services to new technologies.
Rodriguez also stated that reconstruction of the business model is necessary to follow the emerging technologies. Since there is a boost in economic crisis due to the pandemic, we must target new segments. As Sevilla became more familiar with Crypto, the municipality in Sevilla also launched its cryptocurrency. This cryptocurrency aims to encourage the merchants and residence to transact amid this pandemic Coronavirus.