VeChain News Today – Headlines for August 20

  • VeChain has entered a partnership with Travala.com
  • The goal of the collaboration is to facilitate VET Payment in Two Million Hotels
  • VeChain’s overall price outlook is bearish

VeChain News Today – a key digital asset and Blockchain network has entered a fresh partnership. The network in focus today is VeChain. The leading enterprise-friendly Blockchain network announced today August 20, that it has entered into a partnership with Travala.com.

According to the announcement, the two entities collaborated to integrate VeChain’s native virtual currency, VET, to Travala.com. VET will become a payment option on Travala.com. Per the official report, the move would ensure that VET becomes a payment option for more than 2.2 million hotels and homes in more than 80,000 destinations around the world. VeChain believes the move would boost adoption for its native token VET.

Collaboration With Travala.com Will Boost Crypto Adoption

The co-founder and CEO of VeChain, Sunny Lu, while speaking on the development, said:

“We are happy to collaborate with Travala.com to bring clients an improved travel experience with Blockchain technology. This project is put in place to source for real-world applications for VET. It has moved on to form strategic partnerships with notable entities.”

Travala.com said it is determined now more than ever to roll out a new set of payment options that will include digital currencies, for the convenience of users. Since its launch, Travala.com’s online travel and accommodation service has integrated different cryptos to its payment structure (as the need for digital assets has spiked in recent times considering the ongoing pandemic). The CEO of Travala.com, Juan Otero, said the below regarding the development:

Through this collaboration, we hope to continue pushing the growth of crypto adoption by giving our customers access to VeChain’s ecosystem which offers a fast, user-friendly payment option.”

VeChain’s Overall Price Outlook is Bearish

Announcements about collaborations and adoption normally have a way of positively impacting the price of digital assets. However, since the news about VeChain’s alliance with Travala came it has not reflected positively in the price of VET. Perhaps the report that Bitcoin has slid below the $12k mark hasn’t helped.

At press time, VET was changing hands at $0.0186 after going down by 3.16% on the daily chart. Nevertheless, since the integration of VET to Travala.com would ensure that the token is used as a means of payment in over 230 countries, the digital asset will likely see a massive rise in the coming weeks. Meanwhile, an earlier report indicated that VeChain (VET), Chainlink (LINK), and Cardano (ADA) became members of the top cryptos that led the Binance’s futures program. This endeavor saw the exchange record a whopping $2 billion in trade volume.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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