Despegar, one of the leading travel agencies in Latin America, has partnered with Binance Pay and Inswitch to enable cryptocurrency payments for tour packages.
Despegar has become the first online travel agency in Latin America to accept digital assets as a means of payment, with the offering initially available only for customers in Argentina.
Clients will be able to settle hotel accommodations, flights, car rentals, and cruise trips in more than 70 cryptocurrencies, including Bitcoin, Ether, Dogecoin, Litecoin, and Ripple. While the offering applies only to clients in Argentina, it may extend to other South American countries in the future.
Despegar’s General Manager for Argentina and Uruguay, Paula Cristi, stated that the firm has recognized the benefits of the cryptocurrency industry and believes the offering will allow Argentines to approach this universe in a friendly way.
Maximiliano Hinz, Binance Director for Latam Southern Cone, believes that crypto’s main use case is to facilitate payments, and the sector still has a lot of room to grow in terms of adoption.
The partnership between Despegar and Binance Pay is an important step that could promote digital assets across broad society, he added.
The payment method is supported by Inswitch, a global financial technology company that converts digital currencies to fiat.
Despegar is one of the largest travel agencies in Latin America and stretches to over 20 countries in the region, including Brazil, Colombia, Chile, Mexico, Uruguay, Venezuela, Costa Rica, the Dominican Republic, and many others. C