Crypto giant Binance is now aiming to create one of the world’s largest blockchain-based travel agencies.
To that end, the exchange has essentially acquired booking platform Travala.com. Specifically, Travala has been merged with Binance-backed crypto-friendly flight booking portal TravelbyBit.
As the first step of the merger, the two companies will cross-market their offerings, and at a later date, they aim to build an agency that would allow users to book from over 2 million hotels and 600 airlines.
Binance invested over $2.5 million in Australia-based TravelbyBit in October 2018. At the time, Binance CEO Changpeng “CZ” Zhao, said: “There is no better fit than being able to use your crypto when travelling, just after you land in a foreign country, where you may not have the local currency.”
Travala.com has had a connection with Binance too. The platform migrated to Binance Chain in 2019 and has its own token AVA. Notably, AVA jumped 400% in ten days leading to the merger news. Last week, Poloniex listed the AVA token.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Credit: Source link