Binance aims to create one of the world's largest blockchain-based travel agencies
May 21, 2020, 9:20AM EDT
1 min read
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.