Venezuela’s Main Airport Is Lining Up a Cryptocurrency Payment Service

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Written by bobby

Venezuela’s Main Airport Is Lining Up a Cryptocurrency Payment Service: After El Salvador recently adopted Bitcoin as legal tender, the South American country of Venezuela has announced that it is opening up its largest airport to allow travelers to purchase airline tickets using cryptocurrency very soon. Simón Bolivar International Airport, better known as the Maiquetía International Airport, will add Bitcoin, Dash, and Petro — Venezuela’s native cryptocurrency which is backed by oil reserves — as payment options to the two million travelers that pass through the airport each year.

As per a report by El Siglo, the airport will introduce the new payment options in coordination with Venezuela’s National Superintendence of Crypto Assets and Related Activities.

Freddy Borges, Director of the Maiquetía airport states that the introduction of cryptocurrency payments at the airport would mark the country’s commitment to catch up and adhere to international standards and drive digital currency adoption. According to the executive, the crypto payment option would benefit foreign tourists, including those from Russia and Europe.

Venezuela has been a country at the forefront of adopting cryptocurrency to bolster its economy and navigate through international sanctions. The South American country situated on the northern coast of the continent was among the first countries in the world to launch a digital currency of its own in Petro. However, unlike traditional Central Bank Digital Currencies (CBDC), Petro is not pegged to the native fiat and rather backed by oil reserves.

Well-known food and beverage chain Burger King, last year allowed prospects from Caracas to settle their payments using cryptocurrencies, which include most of the popular crypto-assets in Bitcoin, Litecoin, Ether, Binance Coin, Dash, and Tether. Pizza Hut also jumped aboard and enable customers across outlets in major cities like Caracas, Maracay, Maracaibo, and Barquisimeto to pay using Bitcoin, Ethereum, Dash, Litecoin, and Binance Coin.

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