Russian hotels are accepting BTC during FIFA World Cup

Football fans will be able to pay for hotel stay with bitcoin during FIFA World Cup starting June 14
23 May 2018   1377

One of the host cities for the 2018 FIFA World Cup Kaliningrad is expecting visitors and teams from Spain, Belgium, England, Croatia, Morocco and Nigeria. Hotel owners in the city started a campaign offering a bitcoin payment option for the hotel stay. A hotel chain has partnered with a payment processor to provide the service.

We are seeing increasing interest in cryptocurrencies. They will gradually come into use as a means of payment .We have decided that fans should be able to pay for our services with the help of this innovative technology.

 

Anna Subbotina

Manager, Apartments Malina

One of Russia's electronic payment provider that supports cryptocurrency transactions – Free-Kassa will act as the payment processor for the hotels. As the event is closing near, the accomodation have skyrocketed with Kaliningrad getting among the most expensive destinations.

This is an interesting experience for us – we haven’t worked with hotels so far. The hospitality industry is quite sensitive towards new trends.

 

Vitaliy Lavrov

Development Manager, Free-Kassa

Before the start of the World Cup 2 bills regulating different aspects of the crypto sphere are expected to be adopted, i.e. the law "On Digital Financial Assets" (legalizes blockchain technology, mining activity and ICO) and a draft for Russia Civil Code (regulation the use of cryptocurrencies and protection investors' rights). At the moment of publication, Bitcoin market indicators are as follows:

Average price 7,909.60 USD
Market cap 134,857,295,820 USD
Volume (24H) 5,711,080,000 USD

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   156

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.