Binance allows Argentinians to pay with stablecoins for NFT plane tickets

The Argentine state-owned airline Flybondi has announced the introduction of blockchain technologies in the air travel industry. The company will offer its customers air tickets in the form of non-fungible tokens. Flybondi’s management assured that after receiving NFT tickets, users will be able to resell, exchange, or give them as a gift to other travelers no later than three days before the flight. The introduction of the latest technologies for Argentine air carriers was made possible by the developments of the fintech company Travelx.

In turn, the cryptocurrency exchange Binance will allow paying for NFT tickets with USDC and other stablecoins through the Binance Pay payment service. To expand the payment options of Flybondi customers, the list of stablecoins will continue to grow, the crypto exchange assured.

The airline hopes that the experiments with NFT will be successful and that other companies specializing in air travel will follow suit. «This innovation in the industry will provide more flexibility for travelers. They will be able to change their travel plans and use more favorable fares without the risks associated with buying tickets in advance. The introduction of blockchain and NFTs into airline business operations will contribute to the development of the secondary market. This step will unite the travel sector and Web3, create new sources of revenue and reduce costs for air carriers,» Travelx management said.

However, it is worth recalling the statement by Binance that it will stop supporting USDC and several other stablecoins starting September 29. In the future, the crypto exchange will automatically convert USDC, USDP, and TUSD stablecoins on users' accounts into BUSD. According to Binance, users will start «trading with a consolidated BUSD balance sheet» that will show their assets in four stablecoins. «This will not affect withdrawal choices, users can still withdraw savings in USDC, USDP, and TUSD at a 1:1 ratio to the account balance converted to BUSD,» Binance emphasized.