NYK Intros World’s 1st Onboard Digital Currency

Maritime Activity Reports, Inc.

March 16, 2020

Image: NYK

Image: NYK

Japanese shipping giant NYK unveiled what it claims to be the world’s first onboard use of digital currency through the MarCoPay fintech platform, which is operated by NYK and the Philippine-owned Transnational Diversified Group (TDG).

Using MarCoPay, onboard purchases of daily necessities have been successfully performed digitally and hassle-free on a number of vessels, including those operated by other companies, and even in an unstable onboard communication environment.

NYK and TDG will continue to prepare for a full launch, which will include the transmission of funds overseas to family members, by improving the efficiency of digital settlements and international remittances, promoting cashless operations on board, and expanding the network in which MarCoPay can be used by shipowners and ship-management companies outside NYK.

In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” NYK will continue its digitalization efforts to support the lives of seafarers and their families around the world.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News