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Emirates Airline plans to accept bitcoin payments

Emirates Airline plans to accept bitcoin payments

Dubai airline Emirates plans to accept Bitcoin payments in the future, as well as launch NFT on the website, according to a report.

Emirates Airline plans to add Bitcoin as a payment service

As Arab News reported, one of the world’s largest airlines has signaled its intention to add crypto payments and offer NFTs for trading on the company’s website.

Emirates Chief Operating Officer (COO) Adel Ahmed Al-Redha revealed during the Arabian Travel Market that the company will be hiring new staff for its non-fungible token and metaverse ambitions.

The director of operations said:

With the metaverse you will be able to transform all your processes, whether in operation, training, on-site sales or a complete experience, into a metaverse-type application, but above all by making it interactive.

The largest airline in the United Arab Emirates is also looking to explore the application of blockchain technology in tracking aircraft registrations. Furthermore, Al-Redha talked about his plans to add Bitcoin as a payment option as well.

The executive also mentioned how the airline industry has slowly recovered as the average number of travelers increases.

Emirates is not the first airline to adopt digital technologies such as blockchain and crypto payment services.

Related Reading | Which mining company contributed the most to Bitcoin hashrate growth in 2022?

In February 2021, Air France collaborated with different organizations on a blockchain solution to verify COVID test results.

Furthermore, airBaltic from Latvia added Dogecoin and Ethereum as new payment options in March of the same year. The airline had already been accepting BTC since 2014.

Offering crypto as a payment option and adding NFT collectibles to the website is part of Emirates’ strategy to better connect with its customers today.

BTC price

At the time of writing this article, the price of Bitcoin hovers around $30,7000, down 13% in the last seven days. During the last month, the cryptocurrency has lost 23% of its value.

The chart below shows the price trend of the coin in the last five days.

The price of cryptocurrencies seems to have recovered somewhat after the fall | Source: BTCUSD on TradingView

Over the past week, BTC crashed like most other financial and crypto markets.

Yesterday, the cryptocurrency even fell below the $26,000 level, reaching prices not seen since December 2020.

Related Reading | Bitcoin is Expired: Will Tesla and MicroStrategy Sell Their BTC?

So far, the coin has shown a quick recovery, crossing the $30,000 mark again and looking to get closer to a retest of $31,000.

At the moment, however, it is unclear if this recovery will last or if it was a temporary rally, with more downside to come soon.

Featured image from Unsplash.com, chart from TradingView.com

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