The hotel booking platform Travala has just started accepting payments from the most controversial crypto platform Tether and its USDT token so let’s read more in the latest Tether news.
Just a few days ago, Travala announced that Tether (USDT) is now a valid form of payment along with its two million linked properties when the CEO of the Hotel Booking platform Matt Luczynski said:
“Part of our mission is to provide our users with a wide choice of the most well known and used cryptocurrencies so it made perfect sense for us to integrate USDT as a payment option on Travala.com.”
Furthermore, Travala now also accepts payments of Bitcoin, Litecoin, Ethereum, XRP, Binance Coin, Stellar, Cardano, Bitcoin Cash as well as their own coin AVA. Tether joined the crypto market in 2017 and the stablecoin promised to avoid the price fluctuations with the help of the one-to-one ratio with fiat currency while the merchants showed that they are eager for the Hong Kong-based coin. According to the announcement, the addition of Cardano appeared to catch the foundation by surprise.
The booking site which started on the NEO platform initially before switching to Binance’s chain at the start of September didn’t shy away from the ambition to boost the mainstream use of cryptocurrency just when it moved to BinanceSean Mackay, the lead operations at PaymentsSource which is a financial services resource stated:
“Merchants used to accept Bitcoin, Ethereum, Ripple and convert it into Tether in order to hedge against the volatility. Now we are seeing the payments just being done directly in Tether.”
In April 2019, the New York Attorney General Letitia James charged the parent company of Tether, Tether Limited, of colluding with the parent company iFinex for using Tether’s reserve funds to cover the loss of more than $850 million in client and the corporate funds from the BitFinex crypto exchange which eventually undermined the claims USDT to stability based on the USD reserves. Despite the legal disputes with iFinex and having the fifth-highest market cap, Tether continues to see the highest daily and monthly trading volume and it now holds a 24-hour trading volume of nearly $26.5 billion surpassing that of Bitcoin’s $22.5 billion.
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