Simplex, the fiat infrastructure for digital assets globally, announced a partnership with TravelX, a technology company that is working with leading airlines and travel organizations like IATA (International Air Transport Association) to tokenize their inventory by turning them into NFTs (NFTickets).
This integration provides customers with easy access to NFTickets through Simplex’s on-ramp solution, allowing non-crypto users to purchase seamlessly.
“We are honored to partner with Simplex as we create a more transparent, efficient, decentralized and collaborative travel economy. We are very happy to work with one of the world’s most important players in digital payments and believe they are the right partner to join us in this journey,” said Facundo Diaz, Co-founder of TravelX.
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NFTickets are the digital representation of regular flight tickets tokenized through blockchain technology. This allows airlines and travel agents to offer more efficient services and ticketing systems, while helping to reduce supplier distribution costs and inefficiencies, ultimately improving profitability. Travelers have more flexibility managing travel assets without support call centers and can easily buy, transfer, trade or sell tickets through blockchain, all on TravelX’s marketplace. Distributed through peer-to-peer (P2P) channels, NFTickets unlock a new era of democratization in the travel industry.
“We are excited to join forces with TravelX to accelerate their Web3 business with our seamless payment solutions,” said Dror Ben Eliyahu, Simplex’s Head of Business Operations. “Together, we are transforming the industry by bridging the gap between traditional and decentralized finance and taking the old ticketing system into the future of Web3 applications.”
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