Crypto.com Travel lets users book travel and entertainment directly through the company app, according to a Wednesday (May 6) news release.
“Crypto.com Travel represents another important step in expanding real-world utility for digital assets,” Eric Anziani, Crypto.com president and chief operating officer, said in the release.
“This new initiative adds to what is already the most comprehensive rewards program in crypto and with additional benefits available through CRO, the cryptocurrency used in the Cronos ecosystem. By partnering with Bookit, we are delivering a seamless booking experience while enabling our users to turn everyday travel into meaningful crypto-based rewards.”
According to the release, the service provides access to a distribution network encompassing more than 1 million global listings, including hotels, flights, cruises and car rentals.
In addition, the platform offers access to approximately 20 million tickets for live experiences. The company says the launch is meant to complement the Crypto.com “Level Up” program, a tiered rewards structure aimed at increasing the practical application of the native CRO token in everyday commerce.
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“This integration ensures transparent reward timing aligned with specific booking policies, proving Crypto.com’s commitment to building a comprehensive ecosystem that bridges crypto and traditional industries at a global scale,” the release added.
“By connecting global commerce with digital asset rewards, each booking increases the everyday utility of CRO.”
In other crypto-related news, PYMNTS wrote recently about the resurgence of the digital tokens as a merchant payment method.
“The early promise of crypto payments was a disarmingly simple one of faster, cheaper and borderless transactions,” that report said.
“The reality of that earlier era, as merchants quickly discovered, was anything but. Fragmented blockchains, volatile assets, inconsistent user experiences and opaque settlement processes turned what was supposed to be a next-generation checkout feature into an operational burden.”
However, the trajectory of crypto payments looks more and more to be aligned, rather than at odds, with the broader evolution of financial infrastructure. Just before this report, new U.S. legislation was introduced to create a federal registration pathway for nonbank providers seeking direct access to the Federal Reserve’s core payment systems, such as Fedwire, the FedNow® Service and ACH.
“Crypto firms, along with more traditional FinTechs, would be among the biggest beneficiaries of the bill,” PYMNTS added.
