Norwegian Air Shuttle, Europe’s third-largest low-cost airline is set to begin accepting BTC payments later this year. A report unveiled this news, noting that it is the latest move toward making crypto mainstream. This move marks the first time that a leading airline has integrated BTC payments.
Reportedly, this development will come after the launch of the Norwegian Block Exchange (NBX) in August. The Kjos family, which includes the founder of Norwegian Air Shuttle, Bjørn Kjos owns NBX. Bjørn would serve as the exchange’s CEO. Prior to this, he worked as the CEO of Norwegian Air Shuttle for over 17 years.
Eliminating Third Parties
Unlike other mainstream firms, Norwegian Air Shuttle’s crypto adoption will not involve third parties. Purportedly, it would use an NBX-created payment solution to accept BTC payments directly.
The managing director of NBX, Stig Aleksander Kjos-Mathisen noted,
NBX will actually be Norwegian’s payment processor for virtual currency [payments]. The payment solution and crypto exchange are complementary products, giving the airline a complete solution.
NBX’s customers are given the opportunity to earn ‘cash points’ on trades on the stock exchange, as well as on payments made through the payment solution NBX stock for the airline,
Apart from BTC, the airline is also poised to accept ETH and USDC.
A Family Venture in Crypto
The Kjos family’s decision to launch NBX shows that they are bullish on the space. While Bjørn will be the exchange’s head, other members of the family will play major roles in running the exchange. Bjørn’s son, Lars Ola Kjos will serve on the exchange’s board of directors. He is currently one of the largest BTC investors in Norway. According to a report, he has invested more than $400,000 in BTC.
Kjos-Mathisen noted that NBX will only be available for Norwegians at launch. However, the family intends to expand the exchange’s services to neighboring countries in due course.
Speaking about Norwegian Air Shuttle’s BTC adoption, he said,
There [have] been some requests from customers, but the acceptance and shift to virtual currencies are mainly driven by the airline, which sees that the traditional methods of payment are too slow, expensive and inefficient. So accepting virtual currencies as payment from customers is just the first step towards smart ecosystems, where settlements in virtual currencies is an important part also in the B2B segment.
Norwegian Air Shuttle’s foray into crypto comes after several other airlines dipped their toes into the nascent sector. These include Latvia-based Airbaltic and Japan-based Peach Aviation. Also, Surf Air, luxury travel service accepts payments in BTC, ETH, and LTC.
Do you think Norwegian Air Shuttle’s decision to accept BTC payments directly will have a positive impact on the coin’s price? Let us know in the comments below.