Venezuelan Airport to Accept Cryptocurrency for Ticket Payments

Maiquetia International Airport, one of Venezuela’s most prominent civil airlines, says it has plans to accept cryptocurrency for its flight tickets payment.

The Director of the Airline, Freddy Borges, stated that the company has plans to include cryptocurrencies like dash, Petro, and Bitcoin in its payment system.

“We will activate a button for cryptocurrency payments in the airport platforms and commercial activities, in coordination with Sunacrip,” Borges stated.

A Threefold Cryptocurrency Cord

No, Venezuelans aren’t new to buying airline tickets with digital currency. Two airports, Conviasa and Tutorial, earlier announced the possibility of accepting cryptos as a payment method for flights.

In 2019, Conviasa, a national airline, had announced that it would sell its tickets in exchange for Petros, a national cryptocurrency. The then national cryptocurrency superintendent stated that such transactions would get confirmed in two minutes.

Following in Conviasa’s footsteps was Turpial, in August. Turpial informed the public that it would begin accepting Bitcoin as payments for tickets. With Maiquetia joining the train, the widespread use of digital currency as a method of purchasing flight tickets in Venezuela could be close.

Speaking about the importance of such innovation, Borges stated that such payment options would particularly help foreign tourists visiting the country in the near future. To him, tourists must have a flexible experience at the airlines. As an international airport that receives visitors from 17 different foreign destinations, Maiquetia’s concerns are justifiable.

Cryptocurrency can help manage hyperinflation

Hyperinflation and currency devaluation have continued to trouble the South American nation’s economy. On October 1, her central bank devalued its fiat currency, the bolivar, by one million to one. The usage of these currencies will assist citizens and visitors in dealing with the hyperinflation of the local currency.

The news from Maiquetia appears to confirm earlier claims made by Nicolas Maduro, the nation’s President. Nicolas had emphasized that 2021 would see a “revival” of all digital currency platforms operating in the country. He introduced Petros to the country to avoid international sanctions and save the country’s failing economy.

As the Maiquetia boss stated, the nation’s cryptocurrency watchdog, Sunacrip, will regulate the usage of the proposed virtual currencies.