Venezuelan international airport to accept Bitcoin payments: Report

According to reports, a major airport in Venezuela will soon accept Bitcoin (BTC), as payment for its tickets and other services.

According to El Siglo, Simon Bolivar International Airport works to allow cryptocurrency payments to conform to local industry standards. The airport, also known as Maiquetia is located in downtown Caracas. It is the capital of Venezuela.

Freddy Borges from Maiquetia airport said that the airport will accept many cryptocurrencies including Bitcoin, Dash, and Venezuelas digital currency Petro. According to Freddy Borges, the airports administration will offer new payment options in coordination and with Venezuelas National Superintendence of Crypto Assets and Related Activities.

Borges stated that the introduction of crypto payment at Maiquetias airport would be a sign of the company’s commitment to international standards and encourage digital currency adoption. According to Borges, foreign tourists would be able to use the crypto payment option, even if they are from Russia.

Borges stated that “We must make progress in these new economic systems and technological systems to become accessible.”

This news comes as Venezuela is experimenting with a digital currency central bank (CBDC), and the countrys central banking launched the digital Venezuelan bolivar Oct. 1. The Petro, a cryptocurrency backed by oil, was launched by the government in February 2018, and is not tied to Venezuelas national currency like a CBDC.

Related: BitMEX CEO predicts Bitcoin to be legal tender in five countries before 2022

Many airports and airlines have explored ways to accept crypto payments and other blockchain-based functions in recent years. This has allowed them to offer better cash payment options and improved customer verification services (COVID-19 results). After introducing crypto payments in 2014, Latvian airline AirBaltic began accepting Ether (ETH), Dogecoin(DOGE) as payment for tickets in March.