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Binance backed travel company Travala surged massively in Q2

Travala, a Binance-backed travel company, had a 141 percent increase in income in Q2 over the previous three months, owing to a resurgence in global travel. Founded in 2017, Travala is the leading cryptocurrency-friendly travel booking service with 3,000,000 travel products worldwide, including stays, flights and activities.

In Q2, cryptocurrency was used to pay for 70% of the platform’s bookings. This percentage has remained relatively stable over time, suggesting that Travala users are unfazed by crypto market swings, according to reports.

Binance was the first user of a fully integrated Travala platform within the Binance exchange when the business introduced a Mini-App Program. The Mini-App, which was launched in March 2021, already accounted for 8% of total hotel bookings in June. Travala considers the Mini-app program as its strategic initiative.

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Travala currently has unparalleled payment method versatility, accepting over 45 different cryptocurrencies and tokens in addition to traditional currencies. In Q2, Travala expanded the possibilities even further by introducing WeChat Pay, one of the world’s most popular payment networks.

In May 2020, Travala teamed with TravelbyBit, leveraging their current infrastructure to swiftly go online and expand their product offering. Furthermore, the firm had always intended to integrate the flight vertical into its backend, and this work was finished in Q2 2021.

A streamlined backend allowed to accelerate product development and improve flight search functionality, and the results are already starting to show. Travala expects flights to play a greater part in its overall revenue mix moving ahead, as the number of flights booked in Q2 increased 363 percent over the previous quarter.

Related: Visa approves Australian Crypto startups to issue Debit Cards for Bitcoin transactions

In Q2, Travala unveiled support for an up-and-coming home-sharing network called Dtravel, it is a community-run network that lets individuals book houses for short and long-term stays with cryptocurrency and standard payment methods.

The value proposition of Travala is supported by AVA, followed by Bitcoin. As the platform’s native cryptocurrency, AVA is used for payments, obtaining loyalty points, discounts, and incentives, among other things. 

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