Upcoming Kempinski Floating Hotel in Dubai to Launch Crypto for Payments

Kempinski Floating Palace, a 5-star hotel set to launch in Dubai in 2023, will be launching its own cryptocurrency for payments.
The hotel will float completely above the waters of Jumeirah in Dubai — the first in the world.
The team has minted Floating Sea Palace tokens, which will be accepted for hotel bookings and services.

Exclusive: An upcoming 5-star hotel in Dubai, managed by European luxury brand Kempinski Hotels, has revealed that it will be using cryptocurrency to pay for hotel stay and services.

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Named Kempinski Floating Palace, the luxury hotel is set to open in mid-2023. According to information obtained by CNL, this luxury destination is the first hotel in the world to float completely on water.

Specifically, the hotel will be floating on Jumeirah Beach, which is named after the Jumeirah community in Dubai. The 5-star hotel will consist of the main area surrounded by 12 floating villas that can be detached and reattached back to the hotel.

While the main area will be stationed above the waters of Jumeirah, the villas are mobile. Specifically, this means that guests can steer the villas to nearby waters should they wish for a little more privacy.

What is even more revolutionary is that the hotel has issued its own crypto token named Floating Sea Palace (FSP). As per the hotel, FSP will be used as payment for hotel bookings and services.

Kempinski Floating Palace Dubai is being constructed by Seagate Shipyard, a Dubai-based shipbuilding company. Meanwhile, Kempinski Hotels has struck a deal with Seagate Shipyard, which will allow it to spearhead the hotel operations.

More information regarding Kempinski Floating Palace will also be revealed soon.