Wirex, a popular Web3 money app, announced the launch of its hotel booking platform, Wirex Travel. The service offers travelers up to 65% off hotel prices and 8% cash back for payments made with a Wirex card.

With this move, Wirex challenges Binance-backed Travala, which has been dominating the crypto-based travel booking market since 2020.

A New Player in the Crypto Travel Booking Market

Wirex has been expanding its offerings over the years. It has long provided users with benefits such as zero foreign exchange fees, interbank exchange rates, and crypto rewards. Now, the project is entering the crypto-based travel-booking market. 

Wirex Travel positions itself as a user-friendly and comprehensive travel marketplace, where users can find thousands of hotel options worldwide. Booking is available with both traditional fiat currencies and crypto, including Bitcoin (BTC) and Tether (USDT).

Most notably, the platforms are offering intriguing deals that might be unmatched by other service providers. For instance, Wirex Travel is currently providing up to 65% discount on luxury hotels and resorts in major holiday destinations like the Maldives. It’s also offering an 8% cashback to Wirex card users.

The platforms show a wide range of exclusive deals and discounts. This aggressive launch strategy could allow Wirex to capture a developing market segment.

“Travel should be simple, seamless, and rewarding. With Wirex Travel, we’re helping users unlock incredible hotel deals while earning generous rewards when they pay with their Wirex card. This is another step toward making travel more accessible and cost-effective for our global user base,” said Pavel Matveev, Co-Founder of Wirex, in a press release shared with BeInCrypto. 

For years, Travala has dominated the crypto-based travel booking market. It was one of the first entrants and received substantial funding from major investors like Binance. It allows users to book flights, hotels, and vacation packages using over 100 popular cryptocurrencies. 

While Wirex’s features are quite limited compared to Travala’s, its entry could still make the crypto travel segment more competitive.

With its extensive user base, proven experience in the crypto payment space, and now a highly competitive travel booking platform, Wirex is setting itself up as a strong contender. 

The massive promotion for crypto payments only strengthens Wirex’s position, offering a significant incentive to users who want to maximize savings while utilizing their digital assets for everyday purchases like travel.