Speaking at the conference Money20/20 Asia, the CEO of the largest budget airline AirAsia Tony Fernandes confirmed that the operator is “building a payment platform” for issuing its own cryptocurrency. This is part of the company’s strategy to build its customer base.
“We have a product that can be a currency in Big Loyalty… we’re building a payment platform so the two can marry quite nicely. We have an ecosystem that enables you to use that currency, there’s no point having a currency that can’t be used”.
AirAsia is the second major company that announced about its ICO, after Telegram.
Despite the fact that the regulation of the ICO is under the scrutiny of the government around the world, Fernandez is confident in what he is doing:
“We’re in the most regulated industry in the world, so we know how to deal with regulators and regulations,” he continued.
In February the regulators introduced new rules for cryptocurrency in Malaysia, where AirAsia is located, following closely the ICO projects under its jurisdiction.