NYK hails success of digital currency

Japanese container shipping line Nippon Yusen Kaisha (NYK) has announced the world’s first onboard use of a digital currency.

In a statement, NYK said the payments took place through the MarCoPay fintech platform, which it jointly operates with Philippine-owned Transnational Diversified Group (TDG).

The milestone is part of NYK’s ‘Staying Ahead 2022 with Digitisation and Green’ initiative, a five-year plan to build an environmentally friendly and digital structure.

It also means NYK and MarCoPay will look to accelerate the development of the platform ahead of a full launch across the carrier’s fleet.

The MarCoPay platform allows seafarers to make onboard purchases and transfer funds overseas digitally and hassle-free; the pilot has seen such transactions take place on several NYK vessels.

Port Technology International (PTI) reported on NYK’s digital currency initiative when it was launched in November 2018.

Source: porttechnology.org