British bakery- Project D to accept cryptocurrency as a form of payment

British bakery- Project D to accept cryptocurrency as a form of payment

An innovative doughnut bakery- Project D that makes handcrafted and decorated doughnuts has become the first bakery in the UK to accept payment through cryptocurrency, following the footsteps of some of the leading global names like Apple, Tesla, and Rolex.

Reportedly, the company has opened its doors in Leeds at a unit in Potter Fields and delivers across Yorkshire. It is operated by Jacob Watts, Max Poyton, and Matthew Bon and recently won the Lloyds Bank Small Business 2020 Award after witnessing an increase in its annual turnover in 2020.

According to a statement by Project D, the company has witnessed a surge in its demand ever since it began selling online. This has encouraged the company to accept payments in the form of Bitcoin along with other virtual currencies to offer simplified payment solutions to its customers.

In addition to the above, the company is aiming at creating the world’s best doughnut, providing food that is free from artificial flavors in different designs and flavors. Project D believes that accepting digital currency will help the firm grow bigger as it provides a wider means of making payments.

Seemingly, in the last few years, digital currencies like Ether, Bitcoin, and Dogecoin have gained considerable attention, although their value is highly volatile.

Notably, Bitcoin has grown to a new record high of over £36,000, after Tesla’s CEO, Elon Musk bought nearly £1.1 billion worth the digital currency and decided to accept the mode in exchange for its cars.  

It is worth mentioning that, in 2020, Project D bagged the innovation award from Marketing Derby after projecting robust sales even during the national lockdown due to the spread of coronavirus. Among other food and beverage chains in the UK, Global Tribe Café also accepts cryptocurrency as a form of payment.

Source Credit: https://www.yorkshireeveningpost.co.uk/business/consumer/leeds-doughnut-bakery-project-d-will-now-accept-bitcoin-as-payment-3142948