Travala.com’s proprietary token joins the list of crypto assets accepted by cryptocurrency payment processor, CoinGate.
Travala.com’s proprietary token (AVA) joined the list of crypto assets accepted by cryptocurrency payment processor, CoinGate.
According to an exclusive announcement sent to Cointelegraph on May 21, CoinGate has integrated Travala.com’s native AVA token into its payment system — reportedly used by over 5,000 merchants. CoinGate users will now also be able to buy AVA by bank transfer, phone credit, and soon with debit cards.
Improving the token’s usefulness
The addition of the AVA token to CoinGate’s service adds payment functionality to the asset that so far could be earned from referrals, loyalty rewards, and used to access travel discounts and monthly bonuses. CoinGate merchants who accept AVA payments can choose to settle in fiat currencies like the Euro or other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
Travala.com CEO Juan Otero commented:
“It’s great to see that AVA holders can now use the digital token to buy a variety of goods and services online, as well as for online travel bookings.”
A Travala.com spokesperson told Cointelegraph that the addition of the token to CoinGate’s system is important because it expands AVA’s utility outside of the firm’s platform and makes it more useful. He also explained that he believes the token is a rather good fit for payments:
“AVA’s is a Binance Chain token with 1 second block times making it a great option for very fast transactions and payments.”
Making cryptocurrency spendable
Travala.com was a cryptocurrency-enabled stay booking service for tourists. Since yesterday, the platform merged with crypto flight-booking platform, TravelByBit, to provide a fuller service to users who want to spend cryptocurrency on traveling.
In November 2019, Travala.com also partnered with Booking.com to allow its users to book any stay on the mainstream booking service. January reports revealed that the platform has seen a 33% boost in usage after the partnership.