Travala, an online travel ticketing service that operates on cryptocurrency, has expanded its range of crypto payment options to include major tokens on the Solana blockchain.
During the Solana Breakpoint conference in Singapore on September 21, Travala CEO Juan Otero announced the integration with Solana, a layer-1 blockchain ecosystem.
This partnership enables travelers to book hotels and flights using Solana’s native token, Solana (SOL), as well as major stablecoins USDt (USDT) and USD Coin (USDC), all on the Solana blockchain.
The Solana blockchain is a direct competitor to Ethereum and focuses on faster and cheaper execution of smart contracts and decentralized applications (DApps).
While Travala has previously accepted payments in Bitcoin (BTC) and other cryptocurrencies like Ether (ETH), the integration with Solana allows users to deposit and withdraw the supported tokens directly on their Travala accounts, with zero-fee transactions for travel bookings.
This collaboration between Travala and Solana has been well received by crypto investors and enthusiasts, who anticipate a seamless travel booking experience.
Additionally, in the near future, Travala plans to introduce SOL travel rewards.
Coinbase, a leading cryptocurrency exchange, is also showing its confidence in the Solana blockchain. The exchange plans to introduce “cbBTC,” a wrapped Bitcoin asset, to the Solana network. While no specific launch date has been announced, Hassan Ahmed, Coinbase’s country director for Singapore, explained that wrapped Bitcoin products allow users to retain control of their assets while using Bitcoin as collateral for decentralized finance applications.
Solana’s wrapped Bitcoin asset, cbBTC, was initially launched on the Ethereum and Base networks. It is backed at a 1:1 ratio with Bitcoin held by Coinbase, and there are no separate order books or trading pairs for cbBTC on the Coinbase platform.
In conclusion, Travala’s integration with Solana expands its crypto payment options, while Coinbase’s plans to introduce cbBTC on the Solana network further demonstrate the growing confidence in Solana’s capabilities.