Spending a night out in Miami can cost some serious coin. Now, one of the city's biggest nightclubs says it will be the first of its kind to allow customers to decide which kind of coin with which they'd prefer to pay.
E11even announced yesterday that it will be the first major nightclub in the United States to accept cryptocurrency as a form of payment. Soon, when customers shell out for tables and drinks, they'll have the option of using digital currency. The club says it has partnered with a cryptocurrency processing company to process purchases using Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Dogecoin (DOGE), and other cryptocurrencies.
"With the tremendous growth and relevancy of cryptocurrency, coupled with Mayor Francis Suarez leading the charge for Miami's tech boom, we felt it made sense to introduce cryptocurrency as an option to our guests to pay for their night out," E11even CEO Dennis DeGori said in a press release. "E11even is dedicated to always staying ahead of the curve, and we believe cryptocurrency is here to stay."
As E11even referenced, the Miami mayor has been on a public quest to make Miami a hub for cryptocurrency, as he attempts to lure Silicon Valley types to the Magic City. He has also talked about investing city funds in cryptocurrency and suggested that Miami pay municipal workers and accept tax payments in Bitcoin.
Suarez isn't the only one trying to make cryptocurrency more mainstream in Miami. Last month, the Miami Heat announced that the cryptocurrency exchange FTX will pay $135 million in exchange for naming rights to the arena. And the world's largest Bitcoin conference plans to move the event from Los Angeles to Miami this coming June.
E11even says it has made note of the trend and wanted to get out in front of the future of payments before everyone else.
"Bringing services and amenities that cater to our cutting-edge clientele is of uber importance to us, and we're seeing an increasing trend of clients wanting to use their cryptocurrency as a form of payment," operating partner Gino LoPinto said in a press release. "We believe nightclubs allowing Bitcoin as payment will soon become a nightlife industry norm, and we're excited to be the ones paving the way."
E11even previously hosted an opening-night party for the 2018 North American Bitcoin Conference. The club's press release says the venue "continuously sees its VIP guests more involved in the Bitcoin industry."
While E11even hasn't provided details about how the coin transactions will work, the process is likely to be app-based. Customers who maintain a digital currency balance in an online platform such as Coinbase, which just went public with its IPO, own a digital address that allows them to send and receive an assortment of altcoins.
E11even has been closed since the beginning of the pandemic but has announced that it plans to reopen Friday, April 23.
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