Iata Coin is a cryptocurrency designed for
airlines to pay their
interline bills. Iata’s clearing
house processes over
$6bn (R84bn) in billing
transactions a year. These
international transfers result
in significant exchange rate
costs and transfer delays.
Iata Coin is not subject to
any of the volatility risks
associated with Bitcoin
as it is pegged to the US
dollar on a one-to-one ratio.
Four international airlines
currently use this new
payment method.
“Aviation is a very
relevant part of the
global economy.
Approximately 1% of
global GDP – some
US$900 billion – will
be spent on air travel in
2019. Nearly 80% of Iata
polled travellers felt the
cost of travel was value
for money. It has fallen
by about 60% over the
last two decades.
