Latin America travel leader Despegar is now allowing cryptocurrency holders living in Argentina to use crypto to book vacations. Through a partnership with Binance and Inswitch, an integrated fintech company, the agency plans to expand this option to other countries where it operates.
Despegar now accepts payments in cryptocurrency
As announced last monday, Despegar now accepts cryptocurrency in Argentina as a form of payment for ticket payment. Thanks to the partnership with Binance Pay and society switch for this possibility.
Despegar thus becomes the first online travel agency based in Latin America to accept cryptocurrencies as a method of payment.
This initiative will be advantageous, both for the crypto holders and for the travel agency. Remember that Argentina has a rate of high cryptocurrency penetration.
Despegar does not intend to limit this new option to Argentina. The company plans to gradually roll it out to the other 20 countries where it operates.. In any case, this is confirmed Paula Cristi, general manager of Despegar in Argentina and Uruguay, in a statement posted on the company’s blog.
Latin American travel companies are increasingly interested in cryptocurrencies
Cryptocurrency is increasingly being adopted in Argentina, due to the high rate of inflation in the country. Citizens see it as an alternative to help revive the economy. Travel companies are well aware of this trend and are looking to take advantage of the popularity of blockchain and Web3 to grow their business. Evidenced by the recent initiative of Despegar, which now offers the cryptocurrency payment option for its customers in Argentina.
Furthermore, last September, TravelX hit hard by offering tokenized travel tickets from Flybondi. This innovative concept immediately aroused the interest of many customers wishing to travel with the low-cost airline.
These initiatives reflect the growing commitment of travel companies to adapt to new payment trends and offer their customers more flexible options. Adoption continues.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.