Despegar, a leading online travel agency in Latin America, has partnered with Binance and Inswitch to enable cryptocurrency payments for its clients in Argentina. The partnership allows Despegar users to pay for any of its products or services using cryptocurrency, including the popular meme coin Shiba Inu (SHIB). This makes Despegar the first online travel agency in Latin America to accept cryptocurrency as a form of payment.
Per the announcement, the initiative was a joint effort between the cryptocurrency exchange Binance and Inswitch, a financial technology company specializing in integration. Binance Pay is a contactless payment feature that allows users to send and receive payment for supporting merchants using various cryptocurrencies. As such, SHIB holders can now use their tokens for travel bookings via Despegar.
This new payment option will gradually be implemented in other nations where Despegar operates. As the adoption of cryptocurrencies continues to grow, more merchants are likely to follow in the footsteps of Despegar and accept cryptocurrency as a form of payment.
The list keeps on growing
Wirex, a global digital payment platform with 5.5 million users in over 130 countries, was one of the first platforms to integrate SHIB on its platform in December 2021. The firm recently marked the first anniversary of SHIB on its platform, tweeting, “Happy shibtoken anniversary on Wirex.”
These developments show that SHIB is gaining more recognition and utility as a cryptocurrency beyond being a meme coin. As more platforms and merchants accept SHIB as a form of payment, it could potentially increase its demand and value in the future. The acceptance of SHIB by Despegar, Binance Pay, and Wirex is a significant step towards achieving this goal.
