Cryptocurrency adoption is still on a surge amid the recent collapse of the global digital asset market. Vueling, a Spanish airline has joined hands with the BitPay allowing customers to pay for booking their tickets in exchange for cryptos.
Vueling will accept crypto from 100 wallets
The airline is comprised under the IAG (International Airlines Group) and will become the first low cost airline in Europe to accept digital assets as the payment method. According to reports, the airline will be using UATP’s technology for the process. The payment process will be carried out in a push transaction.
Customers can pay for their flight tickets from over 100 different wallets. Vueling will be accepting the 13 different cryptocurrencies as payment. The airline will be accepting the largest cryptos like Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Vueling will also be accepting famous meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB). However, the company aims to start this service from the beginning of 2023.
Crypto market down by 6%
Airlines this move has landed amid the ongoing fall of the cryptocurrency market. The global digital asset market cap has dropped by around 6% over the last day. It now stands at $845 billion. The biggest cryptocurrency, BTC has dropped by over 32% in the past 7 days. While the largest meme crypto, DOGE is also down by 25% in the last 7 days.
Jesús Monzó, Manager of Distribution Strategy at Vueling mentioned that this deal we help Vueling to reaffirm its position as a digital airline.
Earlier, one of the biggest airlines in the world, Emirate hinted that they will soon be accepting Bitcoin. However, airlines also added that they will be exploring the NFTs and metaverse opportunities. As per reports, Adel Ahmed Al-Redhat, Emirates COO, mentioned that airlines have plans to use BTC as a payment service. While adding Emirates NFT collectibles for trading online.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.