Despegar.com (NYSE: DESP), the Spanish version of Decolar operating in Brazil, has released payment for airline tickets with bitcoin and other cryptocurrencies for Argentines. The solution comes in collaboration with the Binance broker and the company Inswitch.
Considered the largest online travel agency in Latin America, the company also became the first in the industry to support bitcoin.
In an announcement this Monday (6), the company stated that the new option will apply to Despegar’s entire offering, “complementing the company’s value proposition, enhancing the user experience and bringing the world of cryptocurrencies closer to the general public.” “.
Despegar is launching bitcoin payments in Argentina, possibly soon in Brazil
Despegar thus becomes the first online travel agency in Latin America to accept bitcoin and cryptocurrencies as a payment method for all of its products and services. Payment works both on the website and in your app.
This new option will be gradually implemented in other countries where Despegar operates, according to the company. That is, Brazilians will soon be able to receive the update.
For Paula Cristi, Despegar’s general manager for Argentina and Uruguay, cryptocurrencies have already become a reality.
“We know that the world of cryptocurrencies is already a reality and therefore all Despegar customers in Argentina will be able to approach this universe in a friendly way through this alliance. We are proud that we can continue to add new alternatives and payment facilities, so that more and more people realize the dream of travel.”
How will cryptocurrency and bitcoin processing be done?
The new crypto payment method is done through the Binance Pay platform, which allows you to send and receive payments in cryptocurrencies. In addition, it has the backing of Inswitch, a leader in banking and payment solutions through financial technology, and responsible for converting cryptocurrencies to local currencies.
According to Maximiliano Hinz, director of Binance for Latam, payment methods can make cryptocurrencies popular.
“Payments are one of the first use cases for cryptocurrencies and we believe their adoption has a lot of room to grow. Thanks to this alliance, Despegar users can use Binance Pay to pay with the cryptocurrency of their choice. We believe this is an important step in our ongoing efforts to tangibly promote global adoption of cryptocurrencies, bringing it ever closer to everyday life.”
Ronald Alvarenga, CEO of Inswitch, says he is happy that his company is part of Despegar’s pioneering project around cryptocurrencies.
“We are pleased with this new alliance with Despegar and Binance as it fulfills our commitment to democratize the payments industry and allow Despegar customers another method of payment by embracing the world of cryptocurrencies.”
Finally, bitcoin is getting another use case in Argentina, a country with high inflation in its fiat currency, which is losing value on a monthly basis.
Company stocks soar on NYSE
With the new partnership with Binance and Inswitch, shares of Despegar on the NYSE soared this Monday (6), rising 5.42%, with each share trading at US$6.13.
It is worth remembering that last Friday (3) Despegar announced major changes in the company’s leadership. One of the most significant was the departure of CFO Lopez Gaffney, who stepped down from his position.
With this, it is clear that market investors responded well to the novelty of the company, despite the fact that they continued with an interim chief financial officer, ahead of the announcement of the results for the fourth quarter of 2022, scheduled for the following March 16, 2023 .
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
