Borrow A Boat and Helm accept cryptocurrency

Borrow A Boat is now accepting cryptocurrency as payment for yacht charters across its entire platform, following successful transactions made through its superyacht brokerage, Helm.

“Following Helm’s successful introduction of crypto payments last year, we feel the time is right to bring this modern, easy and convenient payment method across our group,” said Matt Ovenden, CEO and founder, Borrow A Boat

“Access to cryptocurrencies like Bitcoin and Ethereum provide our clients with a speedy, secure and seamless service,” said Peter Harrison, founder and sales director, Helm which was acquired by the Borrow A Boat group in June last year. “Now that there are several established exchanges, getting and using coins is incredibly easy and convenient.”

Clients booking charter experiences through Borrow A Boat will be able to pay for their yacht charter by transferring the relevant amount of cryptocurrency to its Kraken Business Wallet.

Founded in 2011, Kraken is a US–based cryptocurrency exchange and bank and was one of the first Bitcoin exchanges to be listed on Bloomberg Terminal. It is reportedly valued at $10.8bn.

Ovenden added that whilst payment using cryptocurrency is still in the minority, the capability allows Borrow A Boat to open up the world of yacht charter to a wider – and in many cases younger – client base.

“And for those who prefer to book their charter to the last minute, the speed of crypto payments enables customers to confirm a booking, transfer funds securely and instantly and within 24 hours,” he said.

More operators are choosing to adopt cryptocurrency payments for charter experiences. Earlier this year, Pelorus partnered with Hayvn to accept and process payments.

Similarly, Yachtzoo partnered with BitPay to enable its clients to purchase, charter or sell yachts using cryptocurrency.