Kuala Lumpur, MY, 20 November – An Asian travel company AsianCities announced its entry into the cryptocurrency space, enabling travelers to book over 400 luxury and boutique hotels, resorts and serviced residences in Asia.
Cryptocurrencies have been gaining popularity in the late, with billions of dollars in market cap spread across popular coins such as Bitcoin, Ethereum, NEO, Ripple, Litecoin and more.
Just recently, AsianCities announced a collaboration with Monspace to begin accepting MSD as a payment option on its portal, opening up the possibility of travelers to use coins as an accommodation currency.
AsianCities, a digital travel company in Asia carrying a portfolio of over 400 hotels, resorts and serviced residences is taking a new leadership position in the industry by accepting cryptocurrencies starting with MSD, a blockchain-based cryptocurrency with its strong user-backing and forward-thinking software development arm.
Spokesperson of AsianCites said,
“We have faith in MSD because as opposed to most cryptocurrencies which require an Initial Coin Offering (ICO) to source for funding. The MONSPACE skips the step as it already has strong financial and user backing. It goes to show how much potential the cryptocurrency has”.
MSD was officially launched on 1 October 2017 on the 3rd-anniversary celebration of Monspace. Since its launch, MSD rose to become one of the fifth most traded cryptocurrencies on Tidex exchange.
The spokesperson also commented: “Our group transacts over US$20 million in hotel bookings, airport transfers, room upgrades, tour bookings and other hospitality. With AsianCities now accepting popular cryptocurrencies such as MSD. We expect a very positive growth in hotel bookings to be 70-80% over the next 24 months.”
The Asian travel portal also noted its move to assist more hotels in developing a strong payment solution. Since its guests to maximise outreach and reduce existing banking costs.
According to the spokesperson, AsianCities guarantees its hotel clients fluctuation-free room reservations. The hotel services booking while transacting through its portal.
“Several clients understand the recent impact cryptocurrency has on the market, and are looking forward to increasing their market. Since to reach through crypto without wanting to worry about the details such as value fluctuations and conversions. Another attraction for hotels would be low fees paid on each transaction. Thus, it could potentially save 5-6% of its revenue on institutional fees.
“AsianCities has set up a department specifically for this purpose. And we will begin to assist hotels all over Asia to venture into cryptocurrency with minimal amounts of risk involved. We invite hotel owners, managers and operators across Asia to contact us for more information.”