Cryptocurrency

Tony Fernandes Reveals The Name Of AirAsia's Upcoming Cryptocurrency—BigCoin

In an interview held with Nikkei Asian Review, Tony Fernandes revealed that AirAsia will be turning its frequent flyer points into cryptocurrency known as BigCoin.

From April onwards, AirAsia’s websites will be quoting ticket prices to customers in both fiat currency as well as in BigCoin. The report also reveals that AirAsia plans to implement BigCoin as currency for seat upgrades, in-flight meals and other services within the next three to six months.

Tony sees a future where BigCoin will be accepted by third-party services.

This move comes at the heels of Tony’s revelation that he’s considering an ICO for AirAsia. To him, the move to a virtual currency is only natural since the budget carrier already has the Big Points system.

Besides cryptocurrencies, AirAsia has also dabbled into into e-wallets with the launch of BigPay in January—an e-wallet unique for having an accompanying card.

This wallet was developed in hopes of turning AirAsia’s flights cashless, by allowing passengers to buy food or drinks on the plane itself.

According to the Asian Nikkei report, Tony is unconcerned about any issues with securities or volatility around cryptocurrency. Instead, he sees it as a tool to alleviate currency fluctuation risks from their overseas revenue.

 

Feature Image Credit: Screenshot of this video on Bloomberg

 

 

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