Peach Aviation will accept Bitcoin for the payment of air tickets
Peach Aviation, Japan's low-cost carrier, will be the first Japanese airline to accept Bitcoin at ticket prices.
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Peach Aviation from Osaka, a low-cost operator specializing in flights between Japan and Northeast Asia, has announced that it will accept Bitcoin as a form of payment for tickets.
The announcement comes as a result of legislative changes in Japan, allowing the crypto currency to be legitimized. In addition, the Japanese government hopes that the recognition of Bitcoin will allow for more innovation in the Japanese financial technology market and will prevent the use of Bitcoin in money laundering and other financial crimes.
Bitcoin for the payment of air tickets
Bitcoin, a form of digital payment that allows users around the world to exchange money without the intervention of intermediaries, governments, financial institutions and regulators, is growing in popularity worldwide. With Bitcoin's growing interest in Asia, Peach hopes to attract more passengers from China and South Korea.
However, Peach is not the first airline in the world to accept virtual currency. Latvian low-cost carrier AirBaltic has begun to accept the currency in 2014. The Polish carrier, LOT Polish Airlines, has accepted Bitcoin from 2015.
Peach is controlled by All Nippon Airways (ANA) of Tokyo, which owns 66% of the low-cost carrier.