The Crypto Payments have been launched in its stores and restaurants on 2 continents by a specialty tea retailer located in the Hunan region of China, Urban Tea. From this week on, consumers will purchase drinks and foods with different cryptocurrencies.

Crypto Accept Chinese Tea Shops and Restaurants

Several tea stores are owned in China by its subsidiary, 39 Pu Tea Co Ltd, the publicly traded tea company. In addition, Guokui Management Inc runs a chain of restaurants in the U.S. A press release provides information on cryptocurrencies accepted in both, including bitcoin, ethereum (ETH), and dogecoin (DOGE). CEO Xianlong Wu commented on the announcement:

Urban Tea expects to introduce crypto-month application scenarios in the everyday lives of its customers through the implementation of crypto-monetary payment.

Urban Tea's main business centers on the sale and retail of specialty tea items, which is incorporated in the British Virgin Islands. It offers a variety of tea and coffee beverages, light meals, and a range of natural pastry items in Hunan. To develop seasonal menus and provide fresh food, the company Nasdaq-listed (MYT) has formed its own R&D unit.

Urban Tea Expands Into Cryptocurrency and Blockchain Technology

However, the Chinese company is not restricting its choices to sell only balanced food and drinks to customers who are aware of their diet. Urban Tea has planned, by launching blockchain technology research and crypto-mining, to explore new possibilities in the crypto room.

As the new Chief Operating Officer, the tea dealer recruited Fengdan Zhou, a blockchain data expert, in February. Zhou is responsible for carrying out his crypto business scheme, he has reported.

A new subsidiary in the People's Republic will develop the software and applications for blockchain as well as the mining operations of the company. "We expect our crypto-mining strategy to be implemented gradually, and we are looking forward to this exciting company opportunity," Xianlong Wu stressed.

Urban Tea, now in the decentralized money environment, started its tea industry in 2018. Its home country, China, is, according to data from Farrer's UK tea and coffee supplier, the largest producer of tea with over 2.4 million metric tonnes a year. The tea is mainly growing in three provinces in China – Yunnan, Guangdong, and Zhejiang, and about 40% of the global output is made by the PRC.

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