Ever since Monaco Yacht Show 2021 it has been fairly evident that cryptocurrencies are going to become commonplace in the superyacht industry over the next couple years. The notion of cryptocurrencies being a fad is slowly being washed away with companies such as Denison Yachting claiming to have already completed 18 crypto transactions for yachts over 24 metres. Just one day before MYS began, Camper & Nicholsons and Edmiston also announced that 72m Azteca would be accepting full sales payment in Bitcoin only. And so it comes as no great surprise that a Leading luxury yachting company such as Ocean Independence will be offering their clients the option of payment with cryptocurrencies. 

The company announced in a recent press release that they will be working in partnership with Austria-based Salamantex GmbH, who will manage the systematic processing of payments. The relatively new company which was founded almost five years ago as an IT and financial service provider, will safeguard the smooth processing of all transactions.

As it stands, there are thousands of different cryptocurrencies worldwide, all with different values and functions. For example, Bitcoin and Litecoin serve primarily as a digital currency or store of value and thus offer the same application possibilities as classic money or gold. The two currencies are relatively established and are completely suitable as a modern means of payment, which, thanks to a decentralised structure, does not require a bank or other intermediaries. In everyday life, a transaction with cryptocurrencies works in the same way as a classic payment or a normal transfer.

Peter Hürzeler, managing partner at Ocean Independence commented, "Cryptocurrencies have become an integral part of today's world and will become increasingly important. Therefore, it stands to reason that our clients are now able to pay for their yacht purchase and yacht charter with this type of currency. As one of the first yachting companies to take this step, we are delighted to facilitate the acceptance of most common cryptocurrencies."

Additional support has been provided by industry experts at VISTRA's blockchain & digital asset team. Georg Oehme, team leader and specialist yachting division member, stated that, "We see great potential for the use of blockchain technologies, especially cryptocurrencies, in yachting transactions. Blockchain technology could be the basis for the charter process in the future, although now we see its application mainly in the context of payments. Payment in crypto allows for much faster settlement confirmation compared to payment by bank transfer, and the ability to pay in cryptocurrency will potentially attract new charter clientele; we are very pleased that Ocean Independence has now introduced the process.”

Peter Hürzeler summed up this latest development for the company by saying, "At Ocean Independence, all brokers are poised in the starting blocks to serve customers interested in this new payment option. This will further enhance our unwavering provision of customer service which is unparalleled worldwide". 

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