The low-cost airline Air Asia has confirmed its intention to operate on the FinTech sector with the launch of a new crypto-currency called BigCoin. In an interview with the Nikkei Asian Review , Air Asia CEO Tony Fernandes explained the project of the company. It has indicated its intention to expand into new markets .
The company plans the launch of ICO. It now remains whether Air Asia will develop its own Blockchain or consider using an existing technology to BigCoin. This announcement was welcomed by the crypto-currencies community and could get things done in Asia.
Use BigCoin as payment
Based in Malaysia, Air Asia is the largest low-cost carrier in Southeast Asia. The company plans to convert loyalty points into BigCoin customers. In addition, the CEO of the company said the value BigCoin air tickets will also be posted on the website of Air Asia from this month.
If you missed the announcement, here are the details in English:
Fernandes, who considers the crypto-currencies as a way to reduce the risk of currency fluctuations from income abroad, hope the BigCoin be accepted by other companies. After its launch, customers will use the new digital currency to settle their meals and other services within 3 to 6 months.
Air Asia will use technology Blockchain
Air Asia announced its first FinTech project called "The Big" in mid-2017. Its objective is to provide services facilitating flight purchases over 60 million passengers a year. Last month, Mr. Fernandes has revealed plans for ICO.
Air Asia joins Singapore Airlines using Blockchain technology for their loyalty programs. The Singaporean airline confirmed its intention to develop its own Blockchain.