Maritime trade meets digital finance

A typical ship sale & purchase (S&P) deal involves multiple currencies, time zones, and strict documentation. In theory, crypto could shorten cross-border settlement times and reduce conversion costs. However, compliance comes first — regulatory clarity, banking acceptance, and robust AML/KYC processes must be in place across jurisdictions.

Licensed exchanges in key hubs (e.g., the EU under MiCA, UAE/ADGM & DIFC, Singapore, the UK) apply AML/KYC, tax reporting, and consumer-protection standards. This suggests that, where law and banking frameworks align, digital settlement models in shipping may be considered in the future.

Beyond ship sale & purchase

Not just vessels. Related maritime services could also benefit from digital invoicing and automated reconciliation, including time charter (TC), bareboat charter (BC), ship repair/drydock, supplies & spare parts, underwater cleaning, and local agency fees. Smart contracts could lock payment conditions to performance milestones, making reconciliation more transparent.

Legal and compliance horizon

At present, maritime law, banking, and tax regimes are anchored in fiat currencies. Factors such as sanctions compliance, cross-border transfers, source of funds, and tax declarations require a cautious approach. Any future settlement method must respect the laws of both the flag state and port state, and align with intermediaries’ risk frameworks.

Our stance (neutral, compliance-first)

• We do not accept crypto payments at this time.
• We do not transact with sanctioned persons, vessels, or jurisdictions.
• AML/KYC, lawful source of funds, and tax obligations take absolute priority in any future exploration.
• Discussion remains exploratory — focused on risk controls and documentation standards should regulations allow in the future.

A future worth watching

As of today, there is no widespread precedent in shipping for closing vessel or technical-service payments in crypto. Still, as blockchain infrastructure matures and licensed exchanges integrate more deeply with banks, the line between traditional finance and digital settlement may continue to blur.

Conclusion: For now, no company in the sector has fully enabled it — but who knows? If regulation becomes clear and compliance can be assured, it may become viable.