NY Koen Group, headquartered in Dubai, UAE, is now accepting crypto payments by all its companies operating under its umbrellas. Naum Koen, founder and CEO of NY Koen Group, has been investing in cryptocurrencies for several years and and invested first time in bitcoin in December 2016. He was able to buy a huge amount of bitcoin at the relatively low price of $770 per bitcoin. The profitability of the investment is staggering since bitcoin as of February 18, 2021 has a value of about $50,000.
It should be noted that payment businesses have been going through a revolution during the past few years. New payment technologies have been developed, from block chain and financial tech to artificial intelligence (AI) and then to cryptocurrencies. Cryptocurrency is a kind of digital asset that is kept on a digital shared ledger known as the blockchain. This blockchain cannot be modified, which allows funds and goods can be transferred trustfully. Thus, the blockchain minimizes the risk of fraud and increases transparency. It is therefore not surprising that both consumers and merchants would want to use cryptocurrency payments because they are a more efficient and less expensive payment solution.
NY Koen Group was established by Naum Koen in 2003 and it is currently an international holding company. NY Koen and its subsidiary companies are involved in different markets, including private aviation, digital technologies, jewelry and diamond manufacturing, security, construction, and more. It is made up of several companies and projects: Jeni Coin, GEMGOW, Daniel MS, Time to Nova, Aero Private Jet, Amber Palm, Diamond Club, TES, NY Security, NY Charity, and NY Development.