Urban Tea, a publicly-traded tea company has started accepting cryptocurrencies as payment in all its Chinese stores. A press release unveiled this news on May 10, noting that all Urban Tea stores operated by 39 Pu Tea Co. LTD in China would accept Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) as payment starting this week. […]
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CHANGSHA, China, May 10, 2021 /PRNewswire/ Urban Tea Inc. (the Company , we or Urban Tea ) (NASDAQ:
MYT), announces acceptance of crypto-currency payment, including Bitcoin, Ethereum, and Dogecoin, in all of its stores managed by 39 Pu Tea Co. Ltd in China and all the restaurants managed by Guokui Management Inc. in the U.S starting from this week.
As previously announced, the Company decided to start operations in blockchain technology research and cryptocurrency mining. Management anticipates utilizing a new subsidiary in China to conduct research and development of blockchain-based software and applications and the commercialization of such application as well as cryptocurrency mining.