US travel firm Travala.com has added Shiba Inu (SHIB) as a payment option alongside several other digital assets including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). According to Travala.com’s CEO Juan Otero, the addition of SHIB was in response to the increasing demand from its customers who have been requesting the travel booking platform to add more digital assets to its payment options.
Shiba Inu is an Ethereum-based cryptocurrency that was introduced in August 2020 as a “Dogecoin Killer” and has seen massive adoption in recent months. The cryptocurrency’s popularity grew after it was listed by major cryptocurrency exchanges such as Binance and Coinbase. The value of SHIB has surged in recent weeks, with the cryptocurrency recording a gain of over 1000% in the last 30 days.
Travala.com currently offers its services in more than 230 countries and allows its customers to book more than 3 million travel products including flights, hotels, and activities using digital assets. The travel booking platform also offers its customers a rewards program that enables them to earn back up to 5% of their booking value in the form of its native cryptocurrency, AVA.
The adoption of digital assets for payments is becoming increasingly popular across multiple industries, with some companies choosing to embrace the technology due to the increased efficiency and cost savings it provides. Travala.com is not the first travel booking platform to accept digital assets as a payment option, with Expedia and CheapAir also offering similar services.
In addition, major companies like Visa, Mastercard, and PayPal have also entered the digital asset space, allowing some of their customers to buy, hold, and spend cryptocurrencies through their platforms. The adoption of digital assets as a payment option has also been encouraged by the growing number of crypto ATMs and the increased availability of crypto debit cards that enable real-time conversion of digital assets into fiat money.
The growth of digital assets has not been without its challenges, particularly with regards to their volatility and lack of regulation. However, some analysts believe that the increased adoption of digital assets could lead to more regulation and stability in the industry.
In summary, Travala.com’s decision to add SHIB as a payment option is a reflection of the increasing demand for digital assets as a means of payment and reflects the growing adoption of cryptocurrencies in multiple industries. The move could also encourage more merchants to embrace digital assets as a form of payment, leading to increased adoption in the industry.