finbold.com
Travala.com, a Singapore-based travel agency, unveiled a new Bitcoin (BTC) cashback program for elite travelers.
Under the initiative, high-tier Travala.com users stand to gain 10% cashback in Bitcoin on travel booking payments.
Why Bitcoin?
Bitcoin ranks among the top three payment methods on Travala.com, accounting for roughly 9% of total travel bookings.
The program underscores Travala.com’s recognition of Bitcoin as a leading cryptocurrency and its limited supply as a digital asset.
Juan Otero, Travala.com CEO, emphasized Bitcoin’s enduring appeal, particularly in light of the recent approval of Bitcoin exchange-traded funds (ETF):
“Bitcoin is here to stay, and it’s now becoming more appealing to mainstream audiences, thanks to the recent approval of the first spot Bitcoin exchange-traded fund.”
— Juan Otero, Travala.com CEO
What can Travala.com users look forward to?
The program offers members flexibility in utilizing their Bitcoin rewards, be it for future travel bookings or withdrawals to external wallets, exchanges, or platforms.
However, access to the BTC cashback program requires ownership of a Travel Tiger NFT and staking 2,500 AVA tokens to activate Smart Diamond membership.
With only 1,000 of them in circulation, Travel Tiger NFTs come with a floor price of 2.6 Ethereum (ETH), valued at around $9,800 at current market rates.
Travala.com envisions cryptocurrency-based cashback programs as potential disruptors of conventional Web2-based schemes, citing potential fee cuts and lower fraud risks associated with traditional payment channels.
Otero is optimistic that Bitcoin rewards could serve as a gateway for new users into the Web3 ecosystem, leveraging Travala.com’s AVA Foundation blockchain platform and native AVA tokens for disbursing cashback and loyalty rewards, payment discounts, and exclusive access benefits.