Crypto.com has put in an early bet that 2021 will see a rebound in the battered travel market.
The Hong Kong-based cryptocurrency and payments platform on Monday (Jan. 11) unveiled a partnership with Booking.com that will dole out sizable discounts to users of Crypto.com’s app.
In particular, Crypto.com users who make travel reservations through Booking.com using the Crypto.com app can shave up to 25 percent off the cost of their accommodations.
In addition, app users who pay for their travel plans using the Crypto.com Visa Card can get 8 percent back on their spending as well as access to “travel perks,” including “free and unlimited LoungeKey airport lounge access, free ATM withdrawals worldwide, and no foreign transaction fees,” Crypto.com said in a press release.
The move comes after a dramatic run-up in bitcoin prices in 2020, tempered in the last few days by a sharp, 26-percent decline in the price of the cryptocurrency over Sunday and Monday that has some observers worried, according to Bloomberg.
“In 2020, our Crypto.com Visa Card program grew to become the most widely available card of its kind, and we know that travel perks are a highly sought-after benefit,” Crypto.com CEO and Co-Founder Kris Marszalek said in announcing the partnership. “Our user base also grew in 2020, and we now serve over 5 million users around the world, who are eager to travel again in 2021. We’re delighted to announce our partnership with Booking.com, the first of many we’ll be announcing this year.”
Through Booking.com, Crypto.com users will gain access to “400,000 discounted properties and 28M+ accommodation listings” as well as “seasonal promotions” while also extending the “utility and perks of the Crypto.com Visa Card,” the company said.
For its part, Booking.com is also betting on a big travel rebound in 2021, with a recent survey by the travel site finding 65 percent of consumers are eager to travel again in the coming year, though with an eye on their wallet as well.