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UAE Grocery market delivery service YallaMarket accepting cryptocurrencies as a form of payment on its mobile app in partnership with Bahrain based crypto exchange CoinMENA. YallaMarket is accepting stablecoins USDT ( Tether) and USDC.
According to the article in Khaleej Times, besides launching a new payment method for its customers, the startup is also geared up to receive crypto investments from Mena-based partners and is considering paying salaries via digital assets in the future.
UAE shops, bakeries, real estate brokers and companies have started to accept crypto payments especially after the release of the Virtual assets regulations out of Dubai UAE.
“We can see now that the world is increasingly adopting blockchain and cryptocurrency technologies. YalaMarket could not stand aside as a company based in the UAE which is a global hub for financial technologies. Moreover, as YallaMarket customers value their time and implement technologies in their lives actively, there is no doubt they are among pioneers of using crypto payments,” said Leo Dovbenko, CEO and co-founder of YallaMarket.
In order to launch a new payment method, YallaMarket partnered with CoinMena, a digital assets exchange licensed by the Central Bank of Bahrain.
“Crypto adoption is growing rapidly in the region. As the digital economy grows, using crypto as a medium of exchange is a no-brainer. Like all businesses started using the internet 20 years ago, everyone will start using crypto now; it is inevitable,” said Talal Tabbaa, CEO of CoinMena.