Southeast Asia’s low-cost airline AirAsia wants to launch an Initial Coin Offering (ICO) to “take cost out” of its business model, according to a report by Techcrunch on Friday, March 16.
“We have two things that are very interesting which will have relevance to ICOs, one is our loyalty card where we have ‘BIG Points,’ and I think those BIG Points can be easily transferred to the blockchain,” CEO Tony Fernandes of TechCrunch told the publication.
AirAsia is the second major announcement of ICO plans in the past four months, following social messenger app Telegram, which is currently embarking on a multibillion-dollar sale.
Despite ICO regulation coming under increasing scrutiny from governments worldwide, Fernandes remains confident he can navigate the current and future climate.
In Malaysia, where AirAsia is listed, regulators introduced new regulations for cryptocurrency in February while keeping an eye on ICO schemes under its jurisdiction.
Fernandes didn’t mention how much he would intend to raise should AirAsia’s ICO go ahead.