Simplex and TravelX partner to evolve the travel industry into new Web3 era

Integration allows non-crypto users to purchase NFTickets seamlessly using a wide range of payment methods

MIAMI, Nov. 30, 2022 /PRNewswire/ -- 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.

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."

About Simplex

Simplex is the fiat/crypto infrastructure for the entire world. An EU-licensed financial institution, Simplex aims to change the status quo of the current crypto markets by providing simple, seamless, and secure channels to convert over 100+ fiat currencies to 170+ cryptocurrencies. Simplex has been actively supporting existing and new protocols in the industry, nurturing and expanding its portfolio of supported cryptocurrencies and payment methods.

About TravelX

Led by a team of tech and travel industry veterans, TravelX is building a blockchain-based distribution protocol to create a more secure, decentralized, frictionless, transparent and efficient travel industry. The company's technology allows travel suppliers to tokenize their inventory into NFTs, unleashing distribution capabilities and use cases that enhance both travelers' flexibility and suppliers' profitability. For more, visit www.travelx.io

SOURCE TravelX