Passengers will be able to book Emirates Airlines flights using Bitcoin from now on, after the United Arab Emirates-owned airline announced its intention to enter the cryptocurrency market.
Adel Ahmed Al-Redha, the airline’s chief operating officer (COO), confirmed the news to journalists in Abu Dhabi on Saturday.
He also mentioned Metaverse and Non-Fungible Token as part of the airlines’ digital strategy (NFT).
Following Lot Polish Airlines’ decision to accept Bitcoin for flight ticket payment in 2015, the UAE carrier becomes the second airline to do so directly.
The cryptocurrency market was $7.25 billion at the time, but it has since grown to $1.25 trillion in just eight years.
https://www.tvcnews.tv/2022/05/finland-to-apply-for-nato-membership/With the aviation industry still hesitant to accept cryptocurrency as a payment method, Emirates Airlines’ entry represents a shift in the status quo of receiving only fiat for direct ticket sales, and could see the aviation industry open its doors to crypto assets.
According to reports, Emirates Airlines’ decision to accept Bitcoin is in line with the UAE’s digital economy goal, and comes amid requests for permission to open shops in the Middle Eastern country from Binance, the world’s largest cryptocurrency exchange, and FTX.
With recent developments, the UAE hopes to be at the forefront of cryptocurrency adoption. The country has been receptive to digital assets and the technology that underpins them.
