Private jet charter firm Sandbanks Jets has marked a major landmark in its partnership with international cryptocurrency brokerage service Instacoins, with more than 100 private flights booked successfully via cryptocurrency.

It is a significant moment for the crypto industry as it looks to offer a viable alternative to traditional banking methods. Its increased popularity and legitimacy has led to many individuals opting to embrace its ease of access and transfer. For companies, crypto can offer solid and clear benefits by helping to reduce costs, increasing efficiency and attracting a whole new demographic of clientele.

Sandbanks Jets has been aiming to deliver an exceptional experience to its clients for many years and recently introduced cryptocurrency as a method of payment in response to increasing demands from the market. It did this by teaming up with Instacoins, a cryptocurrency brokerage service that enables businesses like Sandbanks to simplify crypto payments.

This strategic decision by Sandbanks has led to a consistent year-over-year increase in bookings, with the significant milestone of 100 flights successfully booked via cryptocurrency payments bringing an increase in revenue, client acquisition and client retention across the board.

“As a provider of private jet charter services, being able to pay with cryptocurrency is something a lot of our high-net-worth clients are looking for as a payment option,” says Jules Coughlan. head of financial operations, Sandbanks. “Using an exchange like Instacoins makes the process very simple and low risk for us as we receive the required amount in fiat currency, rather than cryptocurrency, which can be volatile.”

For many years, cryptocurrencies were dismissed as just another speculative bubble that would eventually burst. In recent times however, digital currencies have not only proved they are here to stay but have rapidly established themselves as a legitimate asset class in their own right.

Since 2018, Instacoins has been bridging the gap between traditional finance and crypto, enabling people from all walks of life to buy, send and store cryptocurrencies. But high net worth individuals (HNWI) in particular have embraced crypto as one of their preferred methods of payment, leading to a rise in demand in areas such real estate, luxury travel, private jet leasing and air charter services.

This steady upward trend is particularly evident for premium services where cryptocurrencies provide a secure way for HNWIs to make a payment quickly and securely while eliminating cross-border transfer fees and exchange rates.

The ongoing success achieved in the collaboration between Sandbanks and Instacoins demonstrates just how far cryptocurrencies have come in a short space of time and offers a blueprint for crypto payment models in the luxury goods market moving forward.

“Sandbanks has been an incredible partner for us,” says Kris Farrugia, head of operations, Instacoins. “What started out as a few transactions has steadily climbed and taken off. The team at Sandbanks insists on the highest standards of excellence, and this has been a great help as we continually refine our personalised services.”