Fat Taiwan Airline Accepts Bitcoin for Plane Tickets

Passengers of FAT Taiwan can now use Bitcoin to pay for more than 20,000 flights

07 March 2018 741

Taiwanese airline FAT Taiwan Inc. recently announced that it will accept cryptocurrency payments, namely Bitcoin, for tickets and related travel services as it looks to become a pioneer in cryptocurrency adoption within the country’s aviation industry.

Passengers can now use Bitcoin in a convenient and discounted trading experience to pay for more than 20,000 flights.

The airline’s president, Zhang Gangwei, explained that his company has “a bright vision for the future of cryptocurrency” as it proved to be “a significant transaction tool” over the past year.

The widespread use of cryptocurrency in various scenarios will usher in a new future for the airline business, lodging industry, OTA and the entire tourism sector. FAT is about to be the No.1 in the industry to embrace cryptocurrency and blockchain technology.

Zhang Gangwei

President, FAT Taiwan Inc.

FAT’s move marks a growing trend among airlines to provide its customers with as many convenient payment options as possible, not to mention the probable PR boost from associating its brand with innovative technology.

Bitcoin Blockchain

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted

21 September 2018 167

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.