HAYVN Pay Enables Cryptocurrency Payments for Gayo Aviation

HAYVN Pay, a global leader in cryptocurrency payments has partnered with luxury travel company – Gayo Aviation, a global, family-owned business that offers a full suite of bespoke aviation services including aircraft management, consulting services, aircraft purchase and sales and flight deck services.

By leveraging HAYVN Pay’s regulated payment ecosystem, Gayo Aviation unlocks secure, seamless cryptocurrency payments for its customers. This positions Gayo at the forefront of integrating compliant crypto payments in the digital asset luxury landscape. HAYVN Pay is a part of HAYVN, a digital asset-focused financial institution regulated in Australia (AUSTRAC), Lithuania (FNTT), Abu Dhabi (ADGM), the Cayman Islands (CIMA) and the British Virgin Islands (BVI). HAYVN Pay aims to drive cryptocurrency payment adoption by providing accessible, trusted crypto payment solutions.

Christopher Flinos, Chief Executive Officer at HAYVN said: “The interest in paying in cryptocurrency extends across all major asset industries including gold, jewellery, watches, exotic cars, boats, real estate, and handbags. HAYVN Pay aims to bring cryptocurrency payment solutions to 75% of the world’s merchants by 2024. Cryptocurrency accounts for 20% of total luxury sales in 2023. I welcome Gayo Aviation to the HAYVN Pay ecosystem and look forward to providing its customers with a safe, seamless cryptocurrency payment option.”

Ravi Dueland, Business Development Director at Gayo Aviation said: “We are proud to enable our customers with another payment method through HAYVN Pay and have already performed our first flight using HAYVN Pay. In today’s evolving new economy it’s important to provide your customers with multiple options to enable payments. We have noticed an increase in the demand for payments using digital assets and are delighted to be able to offer this to our clients through this partnership. We look forward to continuing enhancing our customers’ experiences through innovation.”

The global private aviation market is valued at over $31 billion, with steady growth projected in the coming years. Recent industry surveys show that cryptocurrency payments are rapidly gaining adoption among private aviation companies, with some reporting  up to a third of bookings are now paid in crypto. According to a recent study, Switzerland emerged as the leading country in crypto adoption in Europe in 2023, with a rate of 21%, which is 3% higher than the previous year and surpasses the European average. In the UAE, Dubai has ambitions to become a global crypto hub, with 27.67% of its 9.5 million population owning some form of cryptocurrency as of 2023. The key drivers behind this adoption include faster settlement times, reduced fees, enhanced security, and the demand from crypto-wealthy clients, particularly millennials who make up a sizable portion of the customer base.