Luxury resort chain Soneva which has properties in Thailand and the Maldives has said that it is now accepting Bitcoin and Ethereum as payments.

The cryptocurrency payment option will be available at Soneva Fushi, Soneva Jani and Soneva in Aqua in the Maldives, and Soneva Kiri in Thailand.

Both Bitcoin and Ethereum can also be used for Soneva Villa Ownership, which it says is the first and only scheme that offers real estate to foreign buyers in the Maldives.

Soneva has partnered with cryptocurrency payments solutions provider TripleA and payment platform provider Pomelo Pay.

TripleA is a licensed entity that enables Soneva’s guests to make crypto payments without any risk of price volatility, offering instant confirmation, locked-in exchange rates, real-time conversions and no chargebacks.

It will be used in conjunction with Pomelo Pay, a payment platform that facilitates cryptocurrency payments using a secure QR code and payment link technology.

Soneva’s reservation department accepts direct bookings with the cryptocurrency payment links arranged securely.

Soneva adds that while any payments made using Bitcoin or Ethereum are 100 per cent non-refundable, credits can apply in line with its flexible cancellation policy.

“At Soneva, we have always endeavoured to be a pioneer in the hospitality industry, hence accepting cryptocurrencies as a payment method is another example of enabling our international guests to easily make payments from anywhere in the world,” said Bruce Bromley, chief financial officer, and deputy CEO of Soneva.

According to some estimates, the global crypto market is projected to reach US$ 4.94 billion by 2030.