Travala.com was founded in 2017, and, over the years, it has grown from a relatively small start-up to the largest blockchain-based travel booking portal in the world. The company has recently announced that it will integrate the VET token by VeChain as one of the payment options for the travelers. The users will now be able to use tokens to book hotels around the world.
The CEO of Travala.com believes that through this partnership, the company will be able to augment the adoption of cryptocurrency across the sector. The same sentiments were echoed by VeChain Foundation and opined that there had been an increasing demand among the majority of consumers for an alternative payment system and blockchain solutions.
VeChain is fully dedicated to promoting VET utility through the creation of valuable transactions and by expanding the VET’s role in the dual token system. The collaboration is essential for VeChain as the VET token will be used in the business network of Travala.com that offers accommodation options in more than 75000 destinations across the globe.
The VeChain Foundation has entered into a partnership with many companies in recent times, and the list includes a renowned consulting firm. The primary purpose of these multiple partnerships is to popularize blockchain solutions in a wide range of industries but within the Crypto company’s network. In June 2020, the company had already announced a partnership with Yuhongtai Food of Shenzhen. It will allow them to track the pork products which are distributed by a subsidiary of the retailer, Meijiada Fresh Foods.
The partnership with VeChain Foundation is a step in the right direction as the company looks to rebound from the woes of low revenue that it suffered due to the COVID – 19 pandemic. It has entered into a partnership with Expedia in the early part of July to get more customer bookings.