NYK hails success of digital currency

3D rendered gold color yen currency symbol with some abstract financial data on world map

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.

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