Low-Cost Mexican Airline Volaris Now Accepts Bitcoin In El Salvador

Low-Cost Mexican Airline Volaris Now Accepts Bitcoin In El Salvador

Mexican low-cost carrier Volaris — formally known as Controladora Vuela Compañía de Aviación, S.A.B. de C.V. VLRS — will accept payments in Bitcoin BTC/USD in El Salvador, as per the country’s President Nayib Bukele.

What Happened: The Salvadoran President shared the news on Twitter on Tuesday. As per Bukele, the airline would also support El Salvador’s Chivo Wallet

See Also: How To Buy Bitcoin (BTC)

Why It Matters: This month, the state-owned Chivo wallet negotiated with El Salvador’s gas stations to offer a 20-cent fuel subsidy for customers who pay with Bitcoin.

The wallet has not been entirely glitch-free. On Tuesday, it was reported that Chivo Wallet temporarily disabled the option to view BTC price frozen for 1 minute after traders found a way to profit from the information.

El Salvador became the first country in the world to adopt Bitcoin as legal tender in June. 

In 2014, airBaltic said it became the “world’s first airline to accept Bitcoin as payment” as per a company statement. 

Price Action: On Tuesday, Controladora Vuela Compañía de Aviación shares closed nearly 1.8% lower at $19.44 in New York. Over 24 hours, BTC traded 3.29% higher at $63,866.53

Read Next: Ethereum Co-Founder Opposes El Salvador Bitcoin Adoption Policy

Photo: Courtesy of Tomas Del Coro via Flickr

Posted In: airlinesBitcoinCryptocurrency AdoptionEl SalvadorNayib BukeleCryptocurrencyNewsMarketsMoversTrading Ideas

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