Largest Scandinavian Airline Will Accept Bitcoin & Cryptos For Ticket Payments Starting This Fall

  • Norwegian Block Exchange (NBX) to be launched in August
  • Europe's third-largest low-cost airline Norwegian Air Shuttle will allow customers to pay in cryptocurrencies like Bitcoin

Bjørn Kjos (73), a Norwegian aviator, lawyer, and business magnate, best known as the founder and CEO of Scandinavia's largest airline Norwegian Air Shuttle, along with his family have “great faith” in cryptocurrency and blockchain technology as they invest in Bitcoin and plans to allow customers to buy tickets with crypto, reported local news agency.

Last year it became known that the Kjos has established the technology company Norwegian Block Exchange (NBX).

Major Norwegian Bitcoin Investors

Lars Ola Kjos has reportedly quietly bought Bitcoin, becoming one of the major investors on a Norwegian scale. At the end of last year, during the crypto winter, the investment was worth around NOK 3.5 million (403,765 USD).

He works for financing and delivering new Norwegian aircraft through the subsidiary Arctic Aviation Assets and is a board member of HBK Holding – the largest owner of the airline – owned by the families of Bjørn Kjos and business partner Bjørn H. Kise. Additionally, he is a board member of NBX.

Norwegian Block Exchange (NBX) Coming In August

Last fall, it has been expected that the crypto exchange would be launched within a few months. Though it has been postponed, they did not fear that the collapse in the market will put a damper on the progress.

Now, NBX is expected to open the marketplace for Norwegian customers next month, August that will be headed by Stig A. Kjos-Mathisen (37), married to Anna Helene Kjos-Mathisen (36) – Bjørn Kjos' youngest daughter. The stock exchange will be painstakingly started in several of the neighboring countries as well.

Most of the NBX is owned by the Kjos family through the New Observatory Invest, while the airline has nine percent of the shares. The airline has secured a right to buy up to 20 percent of NBX, and the right to sell all the shares – both up to spring 2020.

Customers To Be Allowed to Pay Air Tickets With Crypto

The company would also allow Norwegian’s customers to pay air tickets with cryptocurrency such as Bitcoin, starting from the fall.

Once the marketplace is launched, NBX will make a payment solution for the airline, which is also Europe's third largest low cost airline so that customers can pay with virtual currency.

The Benefit Program Reward Would Also Be Linked To A New 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,” says Kjos-Mathisen.

Instead of using credit cards, passengers can buy tickets through the new solution.

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