Key Points
- Travala, a crypto-based travel booking platform, has launched a “Treasury Reserve Plan” after achieving over $100 million in annual gross revenue.
- The plan involves holding reserves in Bitcoin (BTC) and AVA, its native token, to support future growth.
After surpassing $100 million in annual gross revenue, Travala, a travel booking platform that operates on cryptocurrency, has unveiled a new “Treasury Reserve Plan”.
The strategy entails the company maintaining reserves in Bitcoin (BTC) and its own AVA token. This move aims to fortify its financial base and facilitate future expansion.
Travala’s Blockchain Integration
Travala employs blockchain technology to facilitate travel bookings paid with both cryptocurrencies and traditional currencies. To broaden its user base, the firm has formed alliances with travel metasearch engines such as Skyscanner and KAYAK.
The growth of Travala is in sync with the record highs in the crypto market and the rising demand for blockchain-enabled travel solutions.
Details of the Reserve Plan
The Treasury Reserve Plan will strategically allocate a portion of Travala’s treasury to BTC and AVA. These digital assets are crucial to the AVA Smart Program, which drives the platform’s loyalty rewards.
The strategy involves setting aside a share of Travala’s profits and storing them in BTC and AVA. Users can earn and redeem rewards in BTC and AVA based on their membership level, further integrating blockchain technology into the travel experience.
Millions of dollars in travel bookings on the platform are already paid annually using these assets. This initiative aligns with Travala’s objectives of broadening its travel services, enhancing customer experiences, and accelerating blockchain adoption in the global travel market, valued at $10 trillion.
In September, Travala collaborated with Skyscanner to provide crypto payment options for hotel bookings to millions of users worldwide. This partnership added Travala’s inventory of over 2.2 million hotels, supporting more than 100 cryptocurrencies, to the Skyscanner platform.