Decentralized tokenization platform Standard Tokenization Protocol has announced a partnership with travel accommodation booking platform Travala.com. In its official tweet, the STP Network added that the partnership will add more utility to the protocol’s native token, STPT, as it can now be used to purchase booking on their new partner’s platform.
Travala.com is one of the fastest-growing platforms in the international travel accommodation booking segment and has recently entered in partnership with the US-based tourism giant Expedia. Interestingly, Travala.com is backed by one of the biggest players of the crypto-blockchain industry, Binance.
Commenting on their partnership with the STP Network, CEO of Travala.com, Juan Otero said that the network’s ecosystem and community would help Travala.com to strengthen its global presence. Juan also added that while they are very selective regarding partnerships due to the overheads associated with making new integrations, STP Network is expected to be one of their key partners in Asia.
STP Network, on the other hand, is an open-source tokenization protocol, which allows anyone to tokenize their assets using the protocol’s on-chain validator. STP Network also allows the tokenized assets to become fully compliant and transferable across jurisdictions and blockchain networks. Emphasizing on the importance of this partnership, STP Network CEO Minhui Chen said,
With the Coronavirus Pandemic bringing the global tourism industry literally to a standstill during the first half of 2020, Travala.com has witnessed a surge in recent times. This can also be attributed to the extended reach it has found in the form of 2 million users in 230 countries, after its partnership with Expedia. Therefore, the integration with Travala.com holds great importance for STP Network, as this could easily be one of the most significant breakthroughs for the protocol and the STPT coin.