Latvian national airline AirBaltic has become the world's first airline to accept Bitcoins as payment for its services, the company informs.
© Reuters/Scanpix

AirBaltic accepts Bitcoin as payment for tickets on its website www.airbaltic.com. The ticket prices on the website are displayed in euros, but when AirBaltic customers pay for their flight, their Bitcoins are converted to euros at the current exchange rate.

To make this possible, airBaltic teamed up with Bitpay, a third-party payment processor that converts Bitcoins into euros.

Bitcoin is a software-based payment system introduced in 2009. Payments are recorded in a public ledger and bitcoin is its unit of account. Bitcoin payments are accepted by companies like WordPress.com, Overstock.com, Expedia, Dell, and others.

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