For 18 Days, More than 30 Retail Stores in Singapore Will Accept Cryptocurrencies

For 18 Days, More than 30 Retail Stores in Singapore Will Accept Cryptocurrencies

token day singapore

To mark the 10th year anniversary of cryptocurrency as we know it, Bizkey has launched ‘Token Day’ in Singapore. The event is expected to end by 18th of this month.

Token Day

The token day will see about 30 different retail stores located in the Chinatown area of the country collecting cryptocurrencies as a means of payment. This has been described as a perfect way to familiarize the public with cryptocurrency in a retail setting.

Since Bizkey is the organizer of the event, the company made it known that its intelligent blockchain point-of-sale (POS) device will be used by the merchants to receive payments for their various goods and services. The POS has been designed to accept payment using several cryptocurrencies. Example of cryptocurrencies available for use on the POS includes Zilliqa coin (ZIL) Ethereum (ETH), Aelf coin (ELF) and Binance Coin (BNB).

A recent report has made it known that some major participating retailers have been seen taking part in the event. Example include Hotel 1887, SK Jewellery, and Koryo Mart.

Some of these top-tier retailers stated their various opinions about the event.

The Head of Operations in Hotel 1887, Jonathan S, made a statement on behalf of the hotel. He stated that:
“We want to expand our payment options and cater to the needs of different customers, including cryptocurrency holders. Tourists can also enjoy the benefit of cryptocurrency payment as it allows for hassle-free, cross-border payments with low transaction fees.”

The aim of the Token Day Event

With the event, Bizkey is trying to show how easy and convenient the acceptance of cryptos by various retail will be, while making use of its POS devices.

Co-founder and CEO of Bizkey, Ken Huang stated that:
“Although cryptocurrency was first invented 10 years ago, very few people in the world have the chance to actually use it to buy products and services. We want to change this through Token Day, which will be the first time that retailers in Singapore will accept cryptocurrency as payment, on such a large scale.”

Huang further commented that:
“Singapore, we estimate there are about 10,000 to 15,000 people who own cryptocurrency, who are likely to be tech-savvy males in their mid-20s to early 40s. We hope these individuals and the wider public will be keen to try out the novelty of being amongst the pioneering cryptocurrency spenders in Singapore,”