Cryptocurrency is increasingly becoming a significant player in the travel industry, influencing how consumers book trips and how businesses handle transactions. Perhaps that’s why crypto is so alluring to so many—it promises lower cost transactions at lightning fast speeds, with instant confirmations. Plus, it provides 24/7 settlement, which actually answers a lot of problems associated with more legacy payment systems. As digital currencies increase in popularity, the travel industry is starting to catch up (though they’ve experienced a few bumps in the road).
Nuvei's Damien Cramer highlighted a critical aspect of payment preferences, noting that a significant 74% of customers might abandon their booking if their preferred payment method is not available. That statistic shows a clear opportunity for travel service providers to provide multiple payment methods. They need to support inclusion of crypto to satisfy fast-evolving customer expectations.
Stablecoins, specifically, are on the rise because of their distinctive benefits. These digital currencies provide fast and cheap transactions, near-instant confirmations, and settlement capabilities around the clock. These attributes render them an appealing alternative to well-established banking infrastructure. They are particularly effective for international transactions, where long delays and high costs often pose significant hurdles to participation.
Notably, Travala—an online, crypto-friendly travel agency—has seen a dramatic uptick in cryptocurrency usage. Over three quarters (78%) of bookings on Travala in 2024 were paid in crypto. This is a huge industry data point that really demonstrates the increasing level of acceptance and use of digital currencies across this travel industry. Credit and debit cards accounted for less than 8% of transactions on the platform. This points to a larger trend indicating the increasing demand for crypto payments.
As James Lemon put it, when it comes to stablecoins, adopting these things is like learning a new language. He’s doing it to encourage you to accept this new type of payment. While this may seem intimidating at first, the benefits for companies competing on the world stage of travel are tremendous.
Despite all this enthusiasm, there are still challenges to integrating cryptocurrency into the travel industry. Many travel service providers are still bogged down by legacy systems and that could be the biggest hurdle to a seamless cryptocurrency adoption. Upgrading these systems requires investment and a willingness to adapt to new technologies.
Massimiliano Silenzi had a really neat projection of what we could see ahead. In fact, he estimates that by 2030 cryptocurrency might account for 3% to 5% of leisure travel expenditures. Silenzi envisions the possibility of crypto reaching double-digit levels by 2035. This indicates a positive long-term growth trajectory of digital currency adoption within the travel industry. The global population of crypto current holders continues to increase. It is expected to increase from 18 million in 2018 to an astounding 562 million by 2025, driving much of this expansion.
Cryptorefills is a marketplace, allowing users to purchase mobile top-ups, gift cards and other digital services with cryptocurrency. Recently, it has become the biggest platform for crypto purchases. More than 80% of Cryptorefills’ users repeated transactions every month in 2024, showing a clear, steady, and rapidly increasing demand for crypto-based services.
As crypto becomes more mainstream, digital nomads and frequent conference travelers will be some of the first adopters for their travel-related expenses. These tech-savvy individuals often use crypto for various services, including eSIMs for mobile connectivity and ride bookings, highlighting the versatility of digital currencies in facilitating travel.
