• 24 June, 2024
News

Vueling to Become First European Budget Airline to Accept Crypto

Vueling, one of Spain’s low-cost airlines, is expanding after the Covid-19 travel ban has been lifted and is now testing the waters for accepting cryptocurrency payments. On January 14th, the airline revealed that it was looking into using blockchain and NFT technology so that users could buy airline tickets using cryptocurrency.

Crypto on the fly

Vueling has enlisted the help of Criptan, a Spanish cryptocurrency exchange already registered with the Bank of Spain, to act as a payments firm and handle all cryptocurrency-based consumer orders.

Vueling claims that by implementing this change, it will become the first European low-cost airline to take cryptocurrency. Criptan’s CEO, Jorge Soriano, has said that the firm is certain that the usage of cryptocurrency payments would enhance the user experience by revealing the possibilities of such solutions to the public.

UATP technology, the worldwide payments network for airlines, will power the service, and it is anticipated to go live on the airline’s website by the third quarter of 2023. However, the airline has not yet specified which cryptocurrencies would be accepted.

“This agreement places us at the forefront of new technologies and innovation, further reinforcing our commitment to our customers and offering the best and most advanced tools and solutions on our website,” said Jesus Monzo, Vueling’s alliances and distribution manager.

Vueling isn’t the only airline to go crypto in recent times. Last year, Argentine airline Flybondi announced that it will begin selling tickets as NFTs, allowing consumers to resell their tickets on secondary marketplaces. That partnership would allow the firm to accept payments via Binance Pay utilizing stablecoins such as USDC.

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