Travala, a cryptocurrency-based travel booking platform, has announced a new “Treasury Reserve Plan” after surpassing $100 million in annual gross revenue.
The plan will see the company hold reserves in Bitcoin (BTC) and its native AVA token to strengthen its financial foundation and support future growth, according to a company release.
Travala integrates blockchain technology to offer travel bookings paid with cryptocurrencies and traditional currencies. To expand its reach, the company has partnered with travel metasearch engines like Skyscanner and KAYAK.
Travala’s growth coincides with record highs in the crypto market and increased demand for blockchain-powered travel solutions.
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Reserve plan details
The Treasury Reserve Plan will allocate a strategic portion of Travala’s treasury to BTC and AVA, digital assets central to the AVA Smart Program that powers the platform’s loyalty rewards.
The plan involves taking a portion 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 tier, further integrating blockchain technology into the travel experience. Millions of dollars in travel bookings on the platform are already paid annually using these assets.
The initiative aligns with Travala’s goals of expanding its travel offerings, enhancing customer experiences, and accelerating blockchain adoption in the $10 trillion global travel market.
In September, Travala partnered with Skyscanner to offer crypto payment options for hotel bookings to millions of users worldwide. This addition added Travala’s inventory of over 2.2 million hotels, supporting more than 100 cryptocurrencies, to the Skyscanner platform.
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