CoinPayments and Jetcraft have announced a partnership enabling the use of cryptocurrency for aircraft purchases and private aviation services. This collaboration may change the payment approach in the private aviation sector.
Partnership Between CoinPayments and Jetcraft
CoinPayments Inc., a well-known cryptocurrency payment gateway, has partnered with Jetcraft, the largest buyer and seller of business aircraft. According to a press release, this collaboration will allow Jetcraft's clients to make cryptocurrency payments for aircraft and private aviation services.
> “Our partnership with Jetcraft represents a significant milestone in cryptocurrency adoption within HNW markets,” said Alex Alexandrov, Chairman of CoinPayments Inc.
Technological Integration
As part of the partnership, CoinPayments’ technology will be fully integrated into Jetcraft’s accounting and transaction processes. Clients will be able to use a wide range of crypto assets for transactions, with payments processed instantly using state-of-the-art encryption and security protocols.
> “At Jetcraft, we evolve with the ever-changing needs of our global clientele,” said Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft.
Cryptocurrency in Luxury Markets
The partnership between CoinPayments and Jetcraft marks a significant integration of crypto payment solutions within the private aviation sector. The use of cryptocurrency for services aimed at high-net-worth individuals has been steadily gaining traction across other luxury markets. For example, luxury real estate firms in cities like Miami and Dubai have begun accepting Bitcoin and other cryptocurrencies for multi-million dollar transactions. In 2022, ONE Sotheby’s International Realty launched the 'MetaReal' project, aiming to sell a luxury home alongside its digital twin in the metaverse.
The collaboration between CoinPayments and Jetcraft may significantly impact the payment for private aviation services using cryptocurrency, which could also promote the adoption of crypto payments in other segments of the luxury market.
