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Latin American Travel Agency Despegar Begins Accepting Crypto Payments
Teaming with Binance Pay, the travel company will initially accept crypto in Argentina, with plans to roll this option out to additional countries.
Updated May 9, 2023, 4:09 a.m. Published Mar 7, 2023, 7:53 p.m.
Despegar (DESP), a leading online travel agency in Latin America, has started accepting crypto as a form of payment in Argentina in partnership with Binance Pay, both companies announced Monday.
Despegar is the first online travel agency in Latin America to accept crypto, the statement said, adding that payments will be made through Binance Pay. Inswitch, a cloud-based finance-as-a-service platform, will be responsible for converting crypto to fiat.
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Cada vez más adopción ✈️@Despegar, en alianza con #Binance Pay e Inswitch, se convierte en la primer Agencia de Viajes Online (OTA) de LATAM en ofrecer la posibilidad de pagar productos y servicios de viaje con criptomonedas. https://t.co/gjIVs09evh
— Binance Español (@BinanceES) March 7, 2023
While this payment functionality is initially available only in Argentina, Despegar – which operates in 20 markets in Latin America – said it plans on rolling out the service to other countries in the future.
“We know that the world of cryptocurrencies is already a reality and, therefore, from this alliance, all Despegar customers in Argentina will be able to approach this universe in a friendly way,” Paula Cristi, general manager of Despegar for Argentina and Uruguay, said in a statement.
In September, a marketplace for tokenized travel products, TravelX, went live with the offering of inventory of the low-cost Argentine airline Flybondi. A month later, Latin American crypto exchange Lemon integrated with TravelX.
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