Venezuela’s largest airport allows travelers to purchase tickets using Bitcoin, other crypto assets

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After El Salvador recently introduced Bitcoin as legal tender, the South American country Venezuela has announced that it will open its largest airport so that travelers can soon buy cryptocurrency airline tickets. Simón Bolivar International Airport, better known as Maiquetía International Airport, will add Bitcoin, Dash and Petro – Venezuela’s native cryptocurrency backed by oil reserves – as payment options for the two million travelers who pass through the airport each year.

According to a report by El Siglo, the airport will introduce the new payment options in coordination with Venezuela’s National Superintendence of Crypto Assets and Related Activities.

Freddy Borges, director of Maiquetía Airport, explains that the introduction of cryptocurrency payments at the airport would mark the country’s commitment to and comply with international standards and to drive the adoption of digital currencies. According to the executive, the crypto payment option would benefit foreign tourists, including those from Russia and Europe.

Venezuela has been a frontline country in adopting cryptocurrency to bolster its economy and navigate international sanctions. The South American country on the north coast of the continent was one of the first countries in the world to launch its own digital currency, Petro. Unlike the traditional digital currencies of the Central Bank (CBDC), however, Petro is not tied to the local fiat and is instead backed by oil reserves.

The well-known food and beverage chain Burger King made it possible for interested parties from Caracas to process their payments using cryptocurrencies, which include most of the popular crypto assets in Bitcoin, Litecoin, Ether, Binance Coin, Dash and Tether. Pizza Hut also jumped on board, allowing customers in branches in major cities like Caracas, Maracay, Maracaibo and Barquisimeto to pay with Bitcoin, Ethereum, Dash, Litecoin and Binance Coin.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended or constituted as financial advice, commercial advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on perceived recommendations, Forecasts or other information contained in the article.

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