Posted 11 months ago | by Ben Armstrong
Binance to Create One of the World's Largest Blockchain Travel Agencies
Binance, which is one of the biggest cryptocurrency exchanges, aims to create one of the world's largest blockchain-based travel agencies. Even though the travel sector is suffering right now, it will have to bounce back at some point.
According to the May 20 announcement, Travala.com has been merged with Binance-backed crypto-friendly flight booking portal TravelbyBit to become a platform allowing users to book from over 2 million hotels and 600 airlines as well as cross-market their offerings.
Binance is Going for Vacations
Both Travala.com and crypto-friendly flight booking platform TravelbyBit are now backed by Binance. Changpeng Zhao or CZ, CEO of the exchange, said that he believes the firms are able to provide a state-of-the-art travel booking service for the crypto community.
Back in 2018, Binance invested over $2.5 million in Australia-based TravelbyBit. The exchange CEO said at that time:
“There is no better fit than being able to use your crypto when traveling, just after you land in a foreign country, where you may not have the local currency.”
Travala.com is now supporting payments in fiat, as well as over 25 popular cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Binance Dollar (BUSD) with its best price guarantee features.
Travala.com had a connection with Binance before the acquirement, which migrated to Binance Chain in 2019 and has its own token AVA, which allows users to access and get bonuses and discounts, that will be soon available on TravelByBit.
A Travala spokesperson said:
“As the native cryptocurrency of the Travala.com platform, AVA can now be used for payments, receiving loyalty rewards, and accessing exclusive discounts and bonuses as part of our Smart Program. [...] Every time a booking is completed on Travala.com, the traveler gets 2% of the total booking price back in AVA.”
The platform claimed that the merged platform with the flight booking website TravelByBit that will offer tokenized rewards and more payment options, therefore, it will be better than traditional alternatives.
In addition, the platform will be able to focus on the underserved niche of blockchain and cryptocurrency enthusiasts.
Back in 2019, the hotel booking service partnered with Booking.com to allow its users to book any accommodation that is shown on the travel giant’s website. After this partnership, Travala.com has seen a 33% boost in usage.