THELOGICALINDIAN - A specialty tea articles banker based in Chinas Hunan arena Urban Tea has alien crypto payments in its food and restaurants on two continents Starting from this anniversary barter will be able to buy its beverages and commons application assorted cryptocurrencies
Chinese Tea Stores and Restaurants to Accept Crypto
The about traded tea aggregation runs a cardinal of tea food in China through its subsidiary, 39 Pu Tea Co Ltd. It additionally operates a alternation of restaurants in the U.S. beneath addition entity, Guokui Management Inc. A columnist absolution capacity that both of them will acquire cryptocurrencies, including bitcoin (BTC), ethereum (ETH) and dogecoin (DOGE). Commenting on the announcement, CEO Xianlong Wu stated:
Incorporated in the British Virgin Islands, Urban Tea’s capital business is centered on the administration and retail of specialty tea products. In Hunan, it offers a array of tea and coffee drinks, ablaze meals, and an array of pastries able application accustomed products. The Nasdaq-listed (MYT) aggregation has accustomed its own R&D assemblage in adjustment to advance melancholia airheaded and accommodate beginning meals.
Urban Tea Expands Into Blockchain Technology and Cryptocurrency Mining
The Chinese company, however, is not attached its options to alone alms advantageous foods and beverages for diet-conscious consumers. Urban Tea has absitively to analyze new opportunities in the crypto amplitude by ablution blockchain technology analysis and cryptocurrency mining.
In February, the tea banker hired Fengdan Zhou, a blockchain abstracts specialist, as the company’s new arch operating officer. It appear that Zhou will booty albatross for the accomplishing of its crypto business plan.
A new accessory based in People’s Republic will be tasked with designing blockchain-based software and applications as able-bodied as developing the company’s mining operations. “We ahead our crypto mining plan to be gradually implemented and we are hopeful for the able anticipation of this new befalling for the company,” emphasized Xianlong Wu.
Urban Tea, which is now entering the apple of decentralized money, launched its specialty tea business aback in 2018. Its home country, China, is the world’s better ambassador of tea with over 2.4 actor metric bags per year, according to data aggregate by U.K. tea and coffee supplier Farrer’s. The tea is developed mainly in three Chinese ambit – Yunnan, Guangdong, and Zhejiang, and the PRC accounts for about 40% of the all-around production.
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