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Airbnb, a prominent United States Marketplace for lodging, could soon accept payments in cryptocurrency. The announcement was first made as a hint by the company’s CEO, Brian Chesky.
The Unfolding Developments
Airbnb’s CEO Chesky said that the most requested feature by customers is to be able to pay for reservations in cryptocurrency. He responded to the poll, revealing that it was the most popular choice out of 4,000 options. This was after he asked, “If Airbnb were to develop anything in 2022, what would it be?”
Other suggestions included transparent pricing displays, a guest loyalty program, and updated cleaning costs. Other suggestions focused on longer-term stays and savings, improved customer service, and commercial spaces.
The Airbnb CEO stated: “We are in fact looking into this as well,” acknowledging the possibility of expanding to commercial sites. Despite the fact that there is no official word on it, the well-known accommodation booking site may begin to accept cryptocurrencies as a payment option.
A Twitter user pointed out that cryptocurrency may be utilized for payments in nations where cross-border transactions are restricted. “We are looking into this,” Chesky replied. Moreover, Chesky stated that since 2013, the firm had seen a payment volume of USD 336 billion.
Airbnb currently has over 5.6 million rooms available worldwide. According to the firm’s website, since its inception in 2007, Airbnb has served more than 1 billion consumers. More than 4 million hosts have featured their homes on the site.
Airbnb currently accepts payments via Visa, MasterCard, Apple Pay, Google Pay, and PayPal. In September 2021, the Airbnb CEO stated during an interview with Fox Business that crypto payments had been a long-standing demand.
The Future of Crypto
Cryptocurrency mass adoption is the order of the day. Chesky said that he is pleased people are beginning to grasp how the new technology has improved their lives. His influence can be traced to Brian Armstrong.
Brian Armstrong, the CEO of Coinbase, was a technical product manager for Airbnb, which IPO’d in December 2020.
In some regions of the world, cryptocurrencies appear to be gaining popularity. However, El Salvador was the first country to make Bitcoin a legal tender. Meanwhile, AMC Theaters has announced that it will accept Shiba Inu cryptocurrency (SHIB).
AMC is one of the largest companies in the United States. It has long accepted Ethereum and Litecoin crypto as payments. Additionally, Elon Musk has expressed interest in accepting cryptocurrency as a payment method.
However, not all governments appear committed. China is one of the most outspoken opponents of cryptocurrencies. On the other hand, India is considering its position on cryptocurrency in the future. The country’s first-ever crypto index was recently released by the worldwide cryptocurrency super app Cryptowire.