The team at bespoke super yacht brokerage Cecil-Wright & Partners are defined in their industry by their ‘anything is possible’ attitude and the move to accept cryptocurrency is an excellent example of their search to make stepping into the world of super yachts as financially straightforward as possible.
The multiple benefits to Cecil Wright & Partner’s clients can be summed up quite simply as unbeatable financial efficiency and security. High-value transactions in cryptocurrencies, such as Bitcoin, Ethereum and Litecoin, are instantaneous and transactions can be processed seven days a week, with none of the usual time lags associated with banking hours or third-party agencies.
Charter transactions will soon be carried out over the weekend, meaning that if a client decides on a whim at 5pm on a Friday evening that they would like to step on board a yacht the next day, they are able to. No need to wait for funds to clear before surveying the world from the deck of a stunning super yacht.
Henry Smith has been keeping a close eye on cryptocurrency use since being introduced to the concept by a client in 2013, and has noticed the interest increasing at an almost exponential rate.
“We have really focused our attention on cryptocurrency due to increased use and acceptance of it globally as well as within the luxury sector. I am excited about the impact of this decision on the offering to our customers and can only see it being an increasingly busy segment not only for those acquiring and chartering yachts but also for those owners looking sell and charter out their yachts directly in exchange for cryptocurrencies.”
Cecil Wright & Partners have ensured that they are thoroughly prepared for any potential issues and have run through every scenario that could arise during yacht charter and acquisition, to ensure that their clients can move with confidence.