- Siliman University in the Philippines has opened a cafe that accepts only Bitcoin as a mode of payment.
- The cafe was initiated by the dean of the university’s college of law, who is a staunch Bitcoin supporter.
- The Philippines is one of the Southeast Asian countries looking to create a crypto hub.
An educational institution in the Philippines has opened a cafe that accepts only Bitcoin (BTC). Named Sats Cafe, the coffee shop is the first known in the country to be operating using cryptocurrency as the sole mode of payment, as per local media.
The cafe was advertised by Florin Hilbay, the dean of the university’s college of law who is a staunch advocate of Bitcoin. The law professor wrote a book about Bitcoin and was once the Solicitor General of the said country.
The local menu costs from a range of 2,500 up to 4,500 satoshis — the smallest unit of a bitcoin. Based on recent market prices, the cheapest food offered is worth $0.70.
Situated in Southeast Asia, the Philippines is known for its strong adoption of cryptocurrency, particularly due to Web3-based game Axie Infinity. In fact, the said country single-handedly made the game a hit back in 2021.
Currently, cryptocurrency is allowed in the country and the national government is looking toward establishing a budding crypto sector with full regulation. Other neighboring Asian countries like Singapore, Hong Kong, and Vietnam are looking to challenge the West in terms of cryptocurrency adoption with their respective initiatives.
