New Hope, PA’s Wah Gwan® Spice Co. Looks to Blockchain-based Bucks for Business Growth

Marilyn Johnson

Starbucks, Whole Foods, and even Gucci accept them. Now, a Bucks County company is joining the ranks of businesses embracing cryptocurrencies. New Hope, PA-based luxury seasoning line Wah Gwan® (inspired by the Jamaican Patois greeting which translates to "what's going on?") is allowing customers to use them as an official method of payment for their spice blends and seasoning. 

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New Hope, PA’s Wah Gwan® Spice Co. is cashing in on the crypto craze.(Courtesy of Wah Gwan® Spice Co.)
“Wah Gwan has always considered itself a modern and elevated company. It was only natural to start including crypto as we look at where e-commerce is headed,” explained Marcus Davis, who with his wife Rose Davis conceptualized and launched the spice brand in 2020. “We wanted to create an outlet for people who use crypto to purchase our product. This is a way for us to build new relationships with customers and help them spend without converting to cash.”

And this apparently seems to be the trend, according to data from Skynova, a small business invoicing and accounting firm, which found approximately one-third of small to medium-sized businesses in the United States now accept cryptocurrencies.

Small businesses like Wah Gwan, which launched during the pandemic, might choose to accept cryptocurrency because it may provide access to new demographic groups. One recent study by leading research and advisory firm Forrester Consulting found that up to 40% of customers who pay with crypto are new customers to the businesses they’re supporting, and their purchase amounts are twice those of traditional credit card users.

“We did our research and those were some of the factors that played into our decision,” said Rose. “Not only is it at the forefront of technology, but users often represent a more cutting-edge clientele that values transparency in their transactions. Plus, it eliminates certain kinds of fraud.” Other advantages say the Davises, include lower transaction fees and lower risk when trading.

However, they are very well aware of the volatility of the crypto marketplace.

“We keep a close eye on the market and have the settings on our e-commerce software set to only offer within a range of value. This means, that if the market plummets or skyrockets we will never be over or under charge for the products. This is a fluid project on our end and will be managed as we go. Ideally, we stay within 20% of our direct-to-consumer business in crypto and the rest is still traditional transactions,” explained Rose. “But being a modern company means taking risks, and we love a good risk to keep us on our toes and feeling alive!”

Wah Gwan currently accepts Ethereum, Bitcoin, Bitcoin Cash, Dogecoin, USDC, and DAI. Customers pay just as they would in any shopping cart. However, at checkout guests will be prompted to log in to their digital wallet, similar to being taken to PayPal, to finish a purchase. 

To learn more or place an order, please visit https://wahgwan.com

Marilyn Johnson is a freelance food and travel writer covering the food and drink scene of Philadelphia, South Jersey, the greater Mid-Atlantic area, and beyond.

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Marilyn Johnson is a Philadelphia area-based food and travel writer focusing on food & drink in the Mid-Atlantic region. Email phillygrub@gmail.com for Philly area news; phillygrubtrips@gmail.com for travel tips and opportunities.

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