Pioneer short-let company George Residence, according to a press release, has announced its plan to integrate Bitcoin not only as a payment option but as its primary reserve.
Through this announcement, the Nigerian company which broke into the hospitality scene a few months ago will become the first apartment hotel to integrate this digital asset as a payment option. Speaking to reporters, CEO of George Residence, Yanju George disclosed that the decision to use Bitcoin as the company's primary reserve asset is to hedge funds against the country's soaring inflation rate. Not surprising, this is the sole reason for the massive crypto adoption in the West African country.
In consortium with Coinnest Africa, the pioneer short-let company has listed BTC as a payment option for apartments and hotels leased. Located in Lekki, Lagos State, one of the country’s exclusive locations, George Residence, through this integration will pioneer a paradigm shift in how short-lets operate not only in the country but the African continent at large.
With statistics revealing that Nigerians are still actively buying and selling Bitcoin and altcoins amid the recent government ban on crypto transactions, this decision by George Residence will be greatly appreciated by crypto enthusiasts and traders alike.