- The VeChain Foundation has entered a partnership with the travel booking platform Travala.com.
- As part of the collaboration, the VeChain (VET) token will be integrated as a payment option to pay for 2,200,000 accommodations in 230 countries.
In an effort to further expand the adoption of VeChain (VET), the VeChain Foundation entered into a partnership with Travala.com. The website is the world’s leading travel booking platform that enables payment in cryptocurrencies. As part of the partnership, Travala will integrate VeChain (VET) as a payment option, allowing the cryptocurrency to be used to pay for over 2,200,000 accommodations in 230 countries and 600 airlines.
Travala.com was founded in 2017 and is supported by the industry giant Binance. In May, the travel booking platform TravelByBit, supported by Binance, merged with Travala.com “to create one of the largest online travel agencies in the world”.
In total, Travala.com now supports over 30 leading cryptocurrencies in addition to traditional payment methods to drive mass adoption. As stated in the official press release, both companies share this vision:
Sharing the same vision of mass adoption of blockchain and cryptocurrencies, VeChain has been dedicated in the promotion of VET utility by creating more valuable transactions as well as expanding VET’s role as the smart money in our dual token system.
With this collaboration, VeChain’s VET token will be used in Travala’s business network covering more than 2 million accommodation options in over 80,000 destinations across the world.
According to a new report from Grand View Research, the global vacation rental market is expected to reach $114 billion by 2027, representing an annual growth rate of 3.4%. Accordingly, the travel market is a potentially huge market where cryptocurrencies could find adaptation.
In response to the surge in demand, Travala.com is building more products to provide its users with a one-stop solution while creating more opportunities for the blockchain and crypto community to spend their cryptos while traveling, according to Juan Otero, CEO of Travala.com:
At Travala.com, we are dedicated to expanding valuable options for our users. Through this partnership, we hope to continue to push the growth of cryptocurrency adoption by enabling our user’s access to VeChain’s reputable ecosystem and fast, user-friendly payment execution.
Sunny Lu, co-founder and CEO of VeChain, added to the closing of the new partnership:
Positioned as the ecosystem enabler, VeChain has been on the path for accumulating real-world applications and client base, and we’re always on the lookout for partnerships amongst a diverse list of industries to widen the adoption of blockchain. We’re pleased to partner with Travala.com to bring users an enhanced travel experience through the utilization of blockchain technology.