Venezuela’s International Airport To Accept Bitcoin Payments From Air Travellers In The Near Future

A major international airport in Venezuela plans to accept cryptocurrencies like Bitcoin (BTC) as payment for tickets and other services in the near future.

On October 10, the regional news source El Siglo reported that the to local industry standards. Also known as the Maiquetia International Airport, it is located in the centre of Caracas city, Venezuela.

The airport’s director, Freddy Borges said that the airport plans to accept a number of cryptocurrencies, including Bitcoin, Dash, and , the Petro.

He said that the airport’s administration would adopt new payment options as a consequence of their cooperation with Venezuela’s National Superintendence of Crypto Assets and Related Activities.

Supporting Digital Economy As Primary Objective

According to Borges, accepting cryptocurrency payments at the Maiquetia Airport would show the company’s commitment to meeting international standards and encouraging the usage of .

Borges also stated that in order to be digitally accessible in financial terms, “we must advance in these new economic and technological systems.”

The news comes as Venezuela is experimenting with a central bank digital currency (CBDC), with the country’s central bank issuing the on October 1 as part of the experiment.

While a CBDC is linked to the national currency, the Petro is an launched by the Venezuelan government in February 2018.

More than 80 million Petros are already available for purchase by various fiat currencies and top cryptocurrencies, however, Venezuelan Bolivars are not among the currencies available for purchase.

According to Venezuelan Minister of Foreign Trade and International Investment José Vielma Mora, through the initiative, the government aims to attract foreign businessmen from Poland, Denmark, and Norway in order to avoid and promote more foreign direct investment into Venezuela.

Using Cryptocurrency As Payment Mode For Air Travellers

In recent years, several airports and airlines around the world have been investigating ways to introduce cryptocurrency payments and blockchain-based functionalities, with the goal of providing better options for cash payments.

When payments for tickets in March 2021, it was the world’s first airline to do so.

Other commonly recognised digital currencies by the airlines include Bitcoin Cash and four US dollar-pegged stablecoins, including USD Coin, Binance USD, Gemini Dollar, and Paxos Standard.

The airline had already back in July 2014. Since then, The Latvian national carrier has been heralded as the world’s first airline to accept Bitcoin payments.

READ MORE:

We Want To Hear From You

What is your opinion on this development? Share your thoughts with us in the comments below.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store