CoinShots Logo
Singapore Restaurants Accepting Crypto Despite Government Attitude Cooling
Restaurants in Singapore are accepting cryptocurrencies as payment despite the murky nature of the legislation. Maison Ikkoku and Joo Bar form part of the new establishments pushing the crypto renaissance.
Himanshu S.
12:04 4th May, 2022
Adoption

The Singapore food industry is keeping the crypto flame burning even as the government toughens its stance on digital assets.

Maison Ikkoki, an 80-seat restaurant in the heart of the Kampong Glam neighborhood is one of a number of restaurants to accept cryptocurrencies as payment for its services. Visitors to the restaurants are greeted with a sign that informs them that bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) are accepted.

The restaurant’s CEO, Ethan Leslie told Bloomberg that the introduction of cryptocurrency has been a “serious boost” to his business. Leslie says that crypto attracts the right sort of crowd and as the effects of the pandemic are waning, staff of hedge funds and centralized exchanges make up the core of the customers.

A quick glance at the restaurant’s website reveals a number of cryptocurrency-themed events. Crypto Brunch Happy Hour allows clients to ”hang out with dev team members, traders, community, OTC, DEX, CEX, DeFi protocol, NFT artiste, and more.”

Ten minutes down the road is Joo Bar, one of the earliest Singaporean restaurants to accept cryptocurrencies, and it is still keeping its doors open to the crypto-savvy. Owner Jamie Lim offers a 15% discount for patrons that pay in bitcoin.

“Transacting in bitcoin has significantly improved since its inception. These days it’s a simple matter of scanning a QR code,” said Isaac Tang, a regular at Joo Bar.

Lim says that his spot has become something like a melting pot for like-minded people to meet and adds that she has connected people looking for jobs in the industry without charging a fee.

At its height, Singapore was home to Binance, Crypto.com, and a litany of cryptocurrency projects. In the early years, the Singaporean government adopted a pro-crypto stance but recently its attitude has cooled.

Source



CoinShots Logo

Social

Get in touch:

© 2022 Coinshots (AtlasZero LLC). All rights reserved.