MTB.LK Becomes The First Local Company To Accept Crypto Payments 
Posted 7,September

By Chaveendra Dunuwille

In Local News

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From a $260 billion to $2 trillion market value, the relatively new crypto market has managed to redefine financial transactions of the modern-day. Despite its popularity is it fairly uncommon in the Asian continent. This may change as MTB.LK becomes the first Sri Lankan company to accept crypto payments.

MTB.LK which labels itself as an ‘experience company’ is best known for proving uniquely catered outdoor experiences to locals and tourists alike. The company lays claim to over 80 mountain biking trails and is divided into simple trails for novice bikers and more adventurous trails for the more experienced bikers that last a few hours. In addition to the bike tours, the company also hosts food tours, waterfall expeditions, and bike packing tours where all the necessary camping gear is provided.

The payment option was made available on the company website on the 1st of September, 2021.

Despite there being significant advantages to the use of crypto currency many of the world’s governments have been reluctant to adopt it as a standard payment method due to the absence of a proper regulatory mechanism.

However, several ministers of the Sri Lankan government have stated that they are looking into ways to incorporate the payment method. Despite the potential risk MTB stated that it was encouraging to see local entrepreneurs take steps to embrace new technology.