Cryptocurrencies Offset Covid Impact on a Travel Company

The Q3 2021 report released by the travel company Travala shows significant growth, likely due to the acceptance of cryptocurrency payments.

Covid-19 is a major challenge for the travel industry. However, by leveraging the immense potential of cryptocurrency and blockchain in travel, Travala has seen exponential growth. This has partially offset the negative impact of the pandemic.

Juan Otero, CEO of Travala, noted in the Q3 2021 report that the increasing adoption of cryptocurrencies led to explosive growth. It occurred in all three of the company’s core areas – flights, hotels, and activities. In the process, the company took its first steps toward decentralization in the third quarter.

Travala’s total revenue in Q3 2021 was $9.8 million, up 651% from the same period in 2020. Activities grew by more than 70%, while flights and hotels grew by almost 50%. The most important payment option was AVA. It is a multichain token based on Binance Smart Chain, Binance Chain as well as Ethereum Blockchain. In second place after AVA came Bitcoin (BTC).

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Innovation during the Covid-19 pandemic

Otero pointed out that as signs of recovery increase, an amazing amount of transformative innovation is taking place. The tourism industry is changing at an amazing pace. In the process, Travala has positioned itself perfectly for the adoption of cryptocurrencies in the travel sector.

The company designed its app to integrate with premium crypto exchanges, metaverses, and wallets. The crypto-friendly travel company completed the app’s first integration in Q2 2021 with the world’s leading crypto exchange Binance.

Through the app, customers can pay with a variety of cryptocurrencies directly from Binance Exchange wallets. Binance supports payments in over 30 cryptocurrencies, and this has quickly brought more bookings into the company than any single token.

Travala expects this trend to continue. According to the CEO, the company will continue to invest heavily in expanding its reach globally. It also plans to work on improving the travel booking experience for those users who pay with cryptocurrencies.

Partnerships to integrate more tokens

In Q3 2021, Travala also partnered with several token communities and enabled token integrations. These include OM, KLV, VIB, SUPER, XVG, CHR, KISHU, and FUN. Each of these tokens can now be used to pay for millions of travel products, including flights, hotels and activities.

Customers in these token communities can also book services such as business travel and corporate outings as part of Travala’s concierge offering. Travala also established itself as a leading travel partner for several blockchain and crypto events in the third quarter, including Token2049 in London and the Block World Tour in Motril.

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(Featured image by ThePixelman via Pixabay)

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