VeChain Partners With Travala.com to Integrate VET As Worldwide Payment For 2.2 Million Hotels

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SINGAPORE, Aug. 19, 2020 /PRNewswire/ -- As the leading enterprise-friendly public blockchain platform, VeChain has teamed up with Travala.com, the leading cryptocurrency-friendly travel booking platform, integrating VET as the payment accommodation options. The partnership enables usage of VET seamlessly for over 2,200,000 hotels and homes worldwide on Travala.com.

Partnership Enables VeChain Payments In More Than 2 Million Accommodation & 230 countries

According to a new report by Grand View Research, the global vacation rental market size is expected to reach USD $114 billion by 2027, expanding at a CAGR of 3.4% over the forecast period.

Responding to the surge in demand, Travala.com continues to build more products to offer a one-stop-shop solution for its users while also facilitating more ways for the blockchain and crypto community to spend their crypto in travel.

VET Tokens To Be Used As Smart Money

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.

Sunny Lu, the co-founder and CEO at VeChain, said: "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 utilisation of blockchain technology."

Juan Otero, CEO at Travala.com, said: "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." 

Both platforms have been actively promoting their aims to widen cryptocurrency adoption through valuable partnerships and mutual benefit. Travala.com continues to facilitate more ways for users to book travel with cryptocurrencies, in light of a recent increase of consumer appetite for modern payment alternatives and scalable blockchain solutions, which will further the exposure of the VeChain ecosystem to an ever-expanding user base.

About Travala.com

Founded in 2017, Travala.com is the leading cryptocurrency-friendly travel booking service with 2,200,000+ hotels and homes in 230 countries and 600 airlines globally. Backed by industry-giant Binance, Travala.com is a champion of cryptocurrency adoption, accepting over 30 leading cryptocurrencies in addition to traditional payment methods. AVA bolsters the Travala.com value proposition. As the native cryptocurrency of the platform, AVA can be used for payments, receiving loyalty rewards, discounts and bonuses, among several other use cases. For more information, visit: www.travala.com

About VeChain

VeChain project began in 2015. As a leading enterprise friendly public blockchain platform, the VeChainThor Blockchain provides a comprehensive governance structure, a robust economic model, and advanced IoT integration, to facilitate massive enterprise adoption.  Currently, VeChain has international operations in China, Southeast Asia, Europe, North America and other regions. Together with its strategic partners, PwC and DNV GL, VeChain has established cooperative relations with many leading enterprises in different industries, including Walmart China, Bayer China, BMW, BYD Auto, PICC, H&M, ENN, Shanghai Gas，LVMH, D.I.G, ASI etc. For more information, visit www.vechain.org

SOURCE VeChain

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