A BOWNESS boutique is set to accept cryptocurrency as payment for a stay, the first in the North West to do so.

Stephen Hargreaves, owner of The Cranleigh Boutique, has made the decision following increasing requests from customers for the currency to be an accepted method of payment.

And according to Mr Hargreaves, the hotel becomes the first venue in the North West to accept payment using Bitcoin, Ethereum, Utrust Token and Tether.    

“We know that the interest and use of digital assets is growing, particularly over the past 18 months, with investors seeking to diversify their assets in times of economic turbulence,” said Mr Hargreaves. 

“I’ve been contacted by numerous customers requesting we include a way to pay for bookings with Bitcoin at The Cranleigh Boutique.  Although initially unsure of the level of appeal, it is very clear that there is a considerable market for this. 

“This will be a first for us, for the Lake District and for the north-West, but we are renowned for our forward-thinking approach and for applying pioneering methods to our processes.  We know consumer habits and preferences are changing; we’re spearheading that change across our region.”

The businessman, who also owns The Boutique Hideout House, Baha Pacific Street Food restaurant, The Fizzy Tarté cocktail & champagne bar, and Lake View Garden Bar, will work with well-established provider, UTRUST, to facilitate payments and Mr Hargreaves has stressed that The Cranleigh Boutique will not hold any digital assets on-site or on its systems to prevent cyberattacks.

Bitcoin is a decentralized digital currency, without a central bank or single administrator; it can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.  Launched in 2009, the price of one Bitcoin hit an all-time-high last month at $67,277.  Similarly, Ethereum is a decentralized, open source blockchain with smart contract functionality.  Ether is the native cryptocurrency of the platform.

Accommodation at The Cranleigh Boutique can now be booked using Bitcoin, by contacting the reception team, who will take the booking and then send clients a link to a wallet payment screen, where they will then be able to complete the transaction.

“Once again, we’re ‘pushing the boundaries’ and by tapping into this growing digital boom – and a fresh market – we are demonstrating our desire to continue to innovate at every step.  Digital currency is the future and we’re delighted to be leading the way in the North-West.” said Mr Hargreaves.