1.5 k
views

Dubai-Based Delivery Service Now Receives Crypto Payments, Pays Salary in USDT

Amidst a general rise in crypto adoption across the UAE, YallaMarket, a local delivery company in Dubai has incorporated cryptocurrency as a payment method. The major delivery service also claims it will soon offer its staff salary payment options in USDT and USDC.

YallaMarket To Pursue Crypto-Based Development

The firm whose services entail grocery delivery has allowed customers to make crypto payments for its products via their mobile app. Additionally, the company supposedly has plans to facilitate investments from partners in the MENA region using virtual assets. According to local reports, YallaMarket is so entertaining the prospect of paying interested staff in USDT and USDC.  

The e-grocery platform is the latest in a string of UAE-based service providers that have ventured into the crypto space. Certain digital currencies have recently grown more popular in the jurisdiction.  With YallaMarket, clients will now be able to pay also using both aforementioned stablecoins.

Crypto Adoption on the Rise in UAE

Bananas, commonly purchased goods, typically cost Dh7 in Dubai. In the Emirates, a crypto-user can easily purchase these for 1.9 USDT.  As stated earlier, asides YallaMarket, more UAE-based platforms have begun adopting cryptocurrencies. A good example is the Bake N More Café, another local business in Dubai. The company became the first café in the Emirates to feature crypto payments.

Emirati proprietor Mohammad Al Hammadi enthused recently that several customers were open to this payment method. 

A lot of people are coming and using cryptocurrency as a mode of payment. It has been a good experience. More than 10 transactions took place in the first two days of accepting cryptocurrencies. The acceptance level is very high.”

Mohammed’s Café, like many local crypto-inclined services in Dubai, has continued offering traditional options such as physical cash, credit cards, and online transfers. Alongside well-known assets such as BTC, ETH, and USDT, other cafes accept dog-themed meme tokens SHIB and DOGE.

The Bake N More Café uses the Mixin network to process transactions and also the network’s native Mixin (XIN) token. Besides facilitating swift transactions, Mixin also features free transfers and is notably secure.  Recently, Global ambassador Meng Chan Shu reported that there has never been a successful hack in its 4 years of operation. 

Joining Forces with Crypto Outfits

The e-delivery company, YallaMarket on the other hand, joined forces with exchange CoinMena to provide its new payment option. It is interesting to note that the platform also has a clear license from the Central Bank of Bahrain. CoinMena CEO, Talal Tabbaa weighed in on the rising adoption of crypto in the UAE.

Tabbaa pointed out that like the internet 20 years ago, digital assets will witness an inevitable rise in utilization. YallaMarket CEO and co-founder Leo Dovbenko also spoke similarly noting  that the UAE is a “global hub for financial technologies.”

Ahead of Time

Talking about his company’s proclivity for developments, co-founder and CEO Dovbenko explained YallaMarket’s embrace of crypto.

Tether live price
Usdt
Tether
$1,002
price
0.08116%
price change
BUY NOW

Dovbenko shared that his company’s clients actively use time-efficient technologies, and is particularly about being pioneers in different fields. This is not to say that YallaMarket’s decision to integrate has been particularly difficult. In a report, data analytics firm YouGov shared that 40% of consumers in the UAE believe cryptocurrencies are reliable. Additionally, 67% of residents of the region would like to invest in crypto within the next half-decade.

Stay up to date with our latest articles