- Travala.com, a popular crypto travel site, has seen its monthly revenue increase by 205% in May compared to April.
- Current data shows that 60% of the bookings made using the platform in May were paid through crypto.
- Travala.com CEO said that the platform could not have grown as much if it only supported fiat payments.
Crypto travel booking site, Travala.com, witnessed its monthly revenue increase by 205% in May compared to April, according to a recent announcement. On the other hand, the platform saw a 60% decrease in room bookings in May compared to March. According to a Cointelegraph report, Juan Otero, the CEO of Travala.com, explained that domestic travel is increasing as the restrictions are being eased.
We’re fortunate to see our users coming back as soon as they have the opportunity to travel again, even if it is just locally or short weekends nearby… The increase is mainly driven by domestic travel.
Travala.com data shows that 60% of the bookings made using the platform in May were paid through crypto. While Bitcoin was used for 21% of the payments, the firm’s AVA token was used for 16% and 23% used other crypto assets. Otero further said that people are seemingly more open to spending crypto than before. He added that there has been a significant rise in crypto payments on the platform.
Over 60% of our bookings are paid in crypto so we have seen a huge increase in the volume of travel bookings paid with crypto. I believe it’s not just because crypto adoption is growing every day but also because we have built a platform that allows people to pay with [with crypto while removing] a lot of the friction.
Only 40% of the payments made in May used PayPal or credit cards. Otero said that Travala would not have grown as much if it only supported fiat payments.
We appeal to a market that has been neglected in travel but is also growing really fast, the crypto enthusiastic so this is helping us grow faster than other [online travel agencies] that rely on just traditional markets.
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