China’s famous and biggest tea company, headquartered in the City of Changsha, has started accepting three cryptocurrencies, i.e., Bitcoin (BTC), Ethereum (ETH), and Dogecoin for payment purposes. Cryptocurrencies are flourishing, expanding, and inculcating in our daily lives. It seems like the concerning committee of the tea company is planning to expand the business in China, and for this purpose involving cryptocurrencies in the business would help to advertise and expand the business.
Xianlong Wu, the Chief Executive Officer (CEO) of Urban Tea, disclosed this news in the market via press release on 10th of May, 2021 that Urban Tea has started to accept different cryptocurrencies and initially company has begun accepting Dogecoin, Bitcoin, and Ethereum at all stores of Urban Tea in China. He also added that by means of deploying cryptocurrency for payment solutions, Urban Tea is planning to change and upgrade the trend for people to utilize cryptocurrencies in their daily lives. Moreover, the company has already even hired two new executives to execute the strategic plans for the expansion by means of a crypto venture.
Urban Tea, Inc.
Urban Tea is based in China and well-known due to its emerging products of tea among retailers and distributors across the boundaries. Urban Tea is trending in the market for the diversity of the products like a wide variety of Tea, pastries, light meals, drinks, and a few other related products and has got popularity among the urban generation due to its products and expanding business.
CEO of the company shared that the company is trying its level best to expand the business all across the world to get more fame and monetary benefits by entertaining the people with a variety of the taste. And for that purpose, the company has already taken steps that are revealing from time to time. As recently, the company has opened the store in New York, which is known to be the first overseas store of the company, and now it got more fame and attention of the market by disclosing the payment solutions by means of cryptocurrencies. CEO claims that adopting cryptocurrencies for business expansion is just an initial step as the company is foreseeing inculcating the crypto industry differently in the coming time.