Singapore Airlines (SIA) has announced plans to launch a blockchain-based airline loyalty digital wallet for members of its frequent-flyer programme KrisFlyer.

The new wallet will allow members of the KrisFlyer programme to spend digital KrisFlyer miles for point-of-sale transactions at participating retail merchants.

The company plans to launch the wallet in the next six months after completing a successful proof-of-concept trial in partnership with KPMG Digital Village and Microsoft.

SIA said that it will now sign up retail merchants in Singapore to serve as its partners for the new blockchain service.

Singapore Airlines CEO Goh Choon Phong said: “This groundbreaking development in which we will be using blockchain technology to ‘digitalise’ KrisFlyer miles is a demonstration of the investment we are making to significantly enhance the digital side of our business for the benefit of our customers.

“It is in line with our recently unveiled Digital Innovation Blueprint, under which we aim to be the world’s leading digital airline.”