Leading enterprise-friendly public blockchain platform VeChain announced today that it has partnered with Travala.com to integrate its native cryptocurrency, VET, as one of Travala’s payment options.
According to the official announcement, the move would see the VET token being used as a payment alternative in 2.2 million hotels and homes across 80,000 destinations worldwide.
VeChain believes the initiative would further boost the adoption of its native token, which is in line with the visions of the blockchain and crypto industry.
Commenting on the development, Sunny Lu, the co-founder and CEO at VeChain, said:
We’re pleased to partner with Travala.com to bring users an enhanced travel experience through the utilization of blockchain technology.
He added that the project is poised on sourcing for VET’s real-world applications and has gone ahead to form strategic alliances with notable firms.
Travala.com boosting crypto adoption
Travala.com is determined to roll out different payment options, including cryptocurrencies, for its users’ convenience.
Since its launch, the online travel and accommodation firm has integrated several cryptocurrencies to its payment channel, as the growing need for digital assets spikes in recent times.
Juan Otero, CEO at Travala.com, said: “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.”
VeChain (VET) overview: bearish
Announcements about partnerships and adoption usually have a way of positively affecting the price of a token. However, so far, the news about the alliance with Travala has not reflected in the price of VET, perhaps because of the bloody crypto street as Bitcoin slides below $12k.
At the time of writing, VET is trading at a 3.16% loss on the daily chart with a price of $0.0186.
Nonetheless, since integrating VET on Travala.com would see the token used as a payment option in more than across 230 countries, the digital asset is likely poised for a massive increase in the coming weeks.
Meanwhile, Coinfomania reported that VET, alongside Chainlink (LINK), and Cardano (ADA) were among the top cryptocurrencies that led Binance’s futures program which saw the exchange recording over $2 billion in volume.
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