Travala.com Merges with TravelbyBit, backed by Binance
According to an announcement on May 20, Travala.com and TravelByBit will merge to become a platform allowing users to book from over 2 million hotels and 600 airlines.
Both the companies are backed by the leading cryptocurrency exchange, Binance. The exchange’s CEO Changpeng Zhao praised the firms as he believes they are able to provide a state-of-the-art travel booking service for the crypto community.
Someone asked me, why would you back/invest in a travel business with COVID going on?
Me: because I know we will beat COVID and it will pass. #Crypto will stay.
Who wants to travel afterwards? ✈️🏨🔶 https://t.co/epOz399EWZ
— CZ Binance 🔶🔶🔶 (@cz_binance) May 20, 2020
Changpeng Zhao (CZ), Binance CEO, said “Travala.com and TravelbyBit have proven their ability to build world-class travel booking platforms that the crypto community love. We are looking forward to supporting them in their journey and bringing more widespread crypto utility through travel.”
Travala.com currently supports payments in fiat and over 25 popular cryptocurrencies including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Binance Dollar (BUSD) and features a best price guarantee.
As the first step of the merger, the companies will cross-market one another’s travel offerings, while at a later date, a full integration between the two companies will create one of the largest online travel agencies in the world with over 2 million hotels and 600 airlines around the globe. Travala.com’s native cryptocurrency AVA will power the merged platform with the added utility of flight bookings.
Since being founded in 2017, Travala.com has established itself as one of the leaders in driving mainstream usage of cryptocurrencies for worldwide travel. After migrating to Binance Chain in 2019, Travala.com has continued striving to bring more transparent pricing, innovation and enhanced security to the travel industry while aiming to align online travel bookings with the universal ethos of decentralised technology.
Juan Otero, Travala.com CEO, said “We couldn’t be more excited to join forces with TravelbyBit, which is backed by Binance and have constantly been achieving and pushing crypto adoption by providing blockchain-based online travel booking services. We share similar values with Binance and TravelbyBit and are fully aligned on our vision for the future of cryptocurrency adoption.”
Australia-based TravelbyBit was launched in 2017 as a way for travelers to use their cryptocurrency when booking flights. Since securing its investment from Binance back in 2018, TravelbyBit has grown from a small start-up to one of the leading cryptocurrency-friendly flight booking services built for the new economy and blockchain generation.
Caleb Yeoh, TravelbyBit CEO, said “On behalf of everyone at TravelbyBit we are really excited to work with the team at Travala.com to advance the usage of blockchain and cryptocurrency within the travel space. The combined teams will make this goal more likely.”
In November 2019, Travala.com partnered with Booking.com to allow its users to book any accommodation that is present on the travel giant’s website. January reports showed that the platform has seen a 33% boost in usage after the partnership.
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