FlySociety and Deus X Pay partner to offer crypto charter payments

Charter broker FlySociety is now able to take cryptocurrency payments following a partnership with stablecoin payment solutions provider Deus X Pay.

The partnership was formed in response to increase adoption of cryptocurrency payment solutions in the luxury asset market, according to the companies. 

“By partnering with Deus X Pay, we are thrilled to offer our clients the convenience of cryptocurrency payments,” said Nico Castanheira, head of Growth at FlySociety. 

“This innovative step not only enhances the booking experience but also reflects our commitment to staying at the forefront of luxury travel solutions. We believe this will ensure our clients can book their journeys with unprecedented ease and confidence,” he added.

Richard Crook, CEO of Deus X Pay, said: “Working with FlySociety showcases our mutual goal of streamlining payment processes in the luxury travel sector. Our cryptocurrency solutions not only simplify payment processes but also ensure that FlySociety’s clients enjoy secure and efficient transactions, perfectly aligned with the demands of today’s digital world.”

A stablecoin is a type of cryptocurrency that aims to maintain a stable value relative to a specified asset or assets, such as fiat currency. 

Led largely by the US, the cryptocurrency has been growing in popularity. In response to US dominance, on Thursday a consortium of nine European banks, including ING and UniCredit, revealed they are forming a new company to launch a euro-denominated stablecoin. 

Meanwhile, numerous US financial firms have been preparing to launch their own dollar-backed cryptocurrencies after President Trump signed new laws overseeing stablecoins.