Binance aims to create one of the world's largest blockchain-based travel agencies

Layer 1s • May 21, 2020, 9:20AM EDT
UPDATED: May 28, 2021, 12:32PM EDT
Akio Kon/Bloomberg via Getty Images

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.


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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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