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Venezuelan International Airport to Accept Bitcoin Payments

Venezuela-based Simón Bolívar International Airport is allegedly preparing to allow tickets and other services to be paid with cryptocurrencies while keeping the local industry standards in mind.

Airport director Freddy Borges said that the cryptocurrencies to be accepted include Bitcoin, Dash and Venezuela’s oil-tethered digital currency, Petro. Borges added that they would introduce more new payment methods together with the country’s National Superintendence of Crypto Assets and Related Activities.

The introduction of crypto payment is proof that the company strives to advance toward international standards and encourage the adoption of digital currency. Borges stated that the crypto payment option will work to the foreign tourists’ advantage.

Venezuela has recently launched its digital Bolivar on October 1 and was propping up its CBDC (central bank digital currency) by injecting around $40 million into the exchange market on a weekly basis. As a result, the exchange rate was 4.1 Bolivar per dollar on Tuesday. The digital Bolivar uses an SMS-based exchange system to ease the payment and transfer process between users.

Other airports and airlines have also been searching for ways to introduce crypto payments and blockchain-based functionalities, such as providing better options for cash payments and enhancing customer verification services like COVID-19 test results.

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