Is Dominican Republic the New Crypto Paradise? Over 40 Businesses Say Yes!

• Dominican Republic now hosts 41 businesses accepting cryptocurrencies, with a diverse range including restaurants, tech stores, and more.
• Majority of crypto-accepting businesses located in Santo Domingo, but also widely present in major tourist destinations like Punta Cana.

In the Dominican Republic, the number of businesses accepting cryptocurrencies has reached 41, as reported by BTCMap. This platform, which tracks cryptocurrency transactions among businesses, indicates that the majority of these establishments are located in the capital, Santo Domingo, with additional businesses in tourist areas such as Punta Cana, Samaná, Santiago de los Caballeros, Puerto Plata, and Cabarete. 

These establishments include a variety of sectors such as restaurants, supermarkets, recording studios, technology shops, skateparks, coffee shops, and textile factories.

Updates on businesses accepting Bitcoin in the Dominican Republic 🇩🇴: we’re now at 41! The growth has been steady, signaling a consolidation of our circular economy into something special for participating business owners and our country. pic.twitter.com/qCMDKnJHLV

— Bitcoindominicana (@Bitcoin809) August 16, 2024

This level of adoption places the Dominican Republic ahead of other Caribbean countries in terms of the number of businesses accepting digital currencies. For comparison, Cuba has 32 such businesses, Puerto Rico has seven, and St. Martin has six. However, Curacao leads with 79 businesses accepting cryptocurrencies.

As we have previously detailed in Crypto News Flash, the increase in cryptocurrency adoption in the Dominican Republic is largely supported by the organization Bitcoin Dominicana. This organization promotes the use of Bitcoin and has noted a steady increase in the number of businesses accepting cryptocurrencies since last year.

According to Bitcoin Dominicana, this trend is contributing to the development of a circular economy that benefits both business owners and the national economy.

Additionally, Bitcoin Dominicana stated that the growing number of businesses that accept cryptocurrencies as a payment method indicates a strengthening economic environment. This environment supports the use of advanced technologies that offer benefits such as increased security and operational efficiency.

“This indicates a consolidation of our circular economy into something special for participating business owners and our country,” according to the Bitcoin organization.

The data from BTCMap and the initiatives by Bitcoin Dominicana suggest that the Dominican Republic is becoming increasingly open to integrating cryptocurrencies into everyday business transactions.