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Travala announces moving to Binance chain to initiate buyback and burn program

Biraajmaan Tamuly

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Travala to boost token economics of its native coin, AVA, by migrating towards Binance chain
Source: Pixabay

With many industries globally finally embracing the benefits associated with cryptocurrency payments, the travel industry is also stepping up to include it in its business operations. Doing so is contributing towards increasing adoption of cryptocurrencies across all sectors.

Booking platform Travala’s recent revelation that more than 62% of its bookings were done using digital assets was welcomed by many in the cryptocurrency community. The travel booking platform is in the news yet again after it announced that it was moving to the Binance Chain and starting a buyback and burn program for its native token, AVA.

This update was shared over Travala’s official Twitter handle. The tweet read,

“Travala.com will move to Binance Chain and initiate a buy back and burn program for $AVA”

Intending to improve the performance of its native token, in addition to delivering faster processing times and better performance to its users, Travala.com also announced its plan to integrate Binance Coin [BNB] for payments. BNB will be added as one of the preferred payment options over the booking platform.

Travala will also soon submit its proposal for getting listed on Binance DEX. Many in the community rejoiced, with Matthew Luczynski, Travala.com’s CEO, stating,

“As the world’s leading blockchain-based hotel booking platform, we’re thrilled to support Binance Chain in a common mission to grow the blockchain ecosystem and to promote the adoption of cryptocurrencies globally.”

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.