airBaltic, an airline operator majority-owned by the Latvian State has expanded its cryptocurrency payment options beyond Bitcoin (BTC). According to the company’s official release, customers can now pay for tickets using Elon Musk’s favorite coin, Dogecoin (DOGE), Bitcoin Cash (BCH), Ethereum (ETH), and four other stablecoins including Gemini Dollar (GUSD), USD Coin (USDC), Paxos Dollar (PAX), and Binance USD (BUSD).
airBaltic ranks amongst the first set of airlines to enable Bitcoin-backed payments back in 2014, and the new expansion is in line to capture trends and align with the crypto market’s overall growth.
Martin Gauss, Chief Executive Officer of airBaltic:
“As an innovative airline, we always strive to search for ways to improve the customer experience starting from the booking process. Over the years around 1000 clients have used the payment option, which may not seem like a lot, but still offers passengers a unique payment option hard to find elsewhere.”
According to the company, customers’ crypto payments will be converted directly to its Euro equivalent using the exchange rate pricing provided by BitPay, a Bitcoin service payment provider.
Rise of Crypto Payments, Tesla Setting a New Pace
Bitcoin and altcoin payments are becoming commonplace amongst businesses today, with electric automaker Tesla taking the entire narrative to a whole new level. The company, ranked as the biggest automaker by market value announced it will begin accepting Bitcoin for its car products, a bit more than a month after announcing its $1.5 billion purchase of the cryptocurrency.
The integration of Bitcoin and other listed assets as a payment option is helping to expand the mainstream utility of these digital assets, a situation that has the propensity to drive a broader acceptance.
While cryptocurrencies, in general, are becoming more recognized for their potentials to soar in value over time, a combination of institutional and retail buyups, as well as their payment utilities, will inherently drive the industry towards its anticipated maturity in the near future