United Arab Emirates (UAE) has been one of the most aggressive with its crypto adoption strategy. They have talked about their goal to become a leader in the industry time and again. And it also shows in the approach the authorities and the companies in the country are adopting, as crypto payments became available on the grocery delivery service, YallaMarket. Who would have thought that the adoption would start so soon?
UAE’s grocery delivery service starts accepting crypto payments
Allowing users to pay with crypto regardless of how less they use this option is a great initiative. Once the penetration of cryptocurrencies is high enough, the payment side will also start to take off. Currently, the company YallaMarket has only started accepting stable coins, USDT, and USDC for payments. But soon, we might see more options. The company is even considering paying its staff with cryptocurrencies.
The company’s CEO, Leo Dovbenko, is a blockchain enthusiast. He wants to merge the metaverse with old payment systems to offer a better experience to the customers. Leo also has a lot of other startups, and this means those companies might start their crypto journey as well. He believes that the best way to future-proof a business is to adopt crypto in their finances before more people jump on the bandwagon.
To make this possible, YallaMarket has partnered with CoinMena, a crypto trading platform that allows the integration of payments and provides high speed and flexibility.
YallaMarket offers home delivery services to customers who purchase groceries and other necessities. It was launched in 2021 and is based in Dubai, United Arab Emirates. They offer services through their mobile app and website and have dark stores set up in operating areas to deliver speedily to users. The company has already raised $2.5 million in funding rounds and have onboard Dubai’s Angel investors, S7 Ventures, and Wamda Capital. They have been successful in their operation in Dubai due to the fast deliveries and soon plan to expand in Abu Dhabi and Qatar.
What are your thoughts as crypto payments become available on grocery delivery service, YallaMarket? And do you think Leo will implement the payment option in more of his companies? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: EU proposes Bitcoin trading ban to push for mining ban.