Exchanges

Norwegian Air to launch crypto-exchange and possibly sell tickets for crypto

June 12, 2018

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Norwegian Air to launch crypto-exchange and possibly sell tickets for crypto

Norwegian Air low-cost carrier is planning to set up its own cryptocurrency exchange by the end of 2018.

According to E24.no, the newly founded company Norwegian Block Exchange (NBX) will be responsible for building and operating the exchange. It will also manage other blockchain initiatives for the airline.

NBX is led by Stig Aleksander Kjos-Mathisen, who indicated that at least Bitcoin and Ethereum would be made available on the platform.

According to him, the world will soon reach to a point where more and more businesses will start accepting cryptocurrency payments.

“By establishing a marketplace ourselves, where we can determine the appropriate level of KYC (know your customer) and customer due diligence, we can mitigate the risk of market actors unknowingly or indirectly getting involved in money laundering or terrorist financing,” he told E24.no.

Stig Aleksander Kjos-Mathisen also stated that his company is looking for things that can be scalable, for example accepting crypto as payment for airline tickets and making use of blockchain technology in air cargo business.

Let us remind that Norwegian is the sixth largest low-cost carrier in the world. It offers around 500 routes to more than 150 destinations in Europe, North Africa, the Middle East, Asia, the Caribbean, South America and the US.