Elbjets, a Hamburg, Germany based charter broker, has partnered with licensed virtual currencies service provider Instacoins.

The partnership reflects a broader shift in purchasing patterns in the luxury market, as a fast-emerging demographic of wealthy individuals actively seeks to spend on luxury goods, without the need to convert their cryptocurrency. Many businesses, however, are currently ill-equipped to accept digital payments, with concerns around security, set-up fees or general interruptions to current processes.

Elbjets believes it has secured a competitive advantage in the market by accepting crypto currency. "We recognised that cryptocurrency payments aren't simply a trend, they're more and more becoming a standard expectation in modern business," says Kim Sophie Beyer, marketing manager at Elbjets. "We are proactively embracing these innovations to meet the evolving needs of our clients. By integrating these payment options without taking on any crypto market exposure, we're positioning ourselves to attract a new generation of high-net-worth clients who expect this level of financial sophistication. It's about staying ahead of the curve and showing our market that we're evolving with the times."

Instacoins provides reassurance to merchants with regulated infrastructures and personalised service, instantly converting cryptocurrency payments to traditional cash currency on behalf of its clients, removing the need for cryptocurrency expertise or handling on the part of merchants. Additional benefits include elimination of international transfer fees, a reduction in transaction times, and the avoidance of credit card fees. To support secure high-value transactions, Instacoins has enhanced its platform's fraud prevention and anti-money laundering measures, with recognition from compliance firm Chainalysis.