Cryptocurrency is carving out a role in travel — from B2C bookings to B2B settlements — through stablecoin-powered payments and crypto-savvy consumers making high-value transactions. Although cryptocurrency still represents a small portion of global travel spending, industry leaders believe change is coming quickly.
“It’s moved well past the ‘theoretical’ phase,” said Massimiliano Silenzi, CEO of Cryptorefills, a B2C platform offering flight and hotel bookings via crypto. “Globally, there are nearly half a billion crypto holders today, and we see that reflected in real purchasing behavior.”
Cryptorefills reported that over 80% of its users made crypto purchases at least once a month in 2024. Travel is among the company’s fastest-growing segments, driven by digital nomads and conference travelers who also use the platform to purchase eSIMs, book ride services and make top-ups.
Extending reach through crypto payments
“Travel is an emotional and high-value purchase,” said Damien Cramer, senior vice president of global travel at Nuvei. “Seventy-four percent of customers won’t complete a booking if their preferred payment method isn’t offered.”
While consumers are increasingly open to paying with cryptocurrency, businesses have been slower to adopt it, especially for B2B transactions. That may be changing as stablecoins offer more predictable value and faster settlement.
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“The speed and ease of stablecoin transactions are becoming more profound,” Cramer said.
Still, travel companies remain hesitant. “We’re all pretty much new to this,” said James Lemon, global industry lead at Stripe. “Stablecoins are like AI — a language we’ll all learn in the next two to three years.”
Who is using crypto for travel?
Crypto’s appeal spans both budget-conscious and luxury travelers.
“Our largest group today is made up of digital nomads and conference travelers,” said Silenzi. Their bookings typically align with mid-range offerings.
Travala, a crypto-focused online travel agency (OTA), reports that about 78% of its bookings in 2024 were made with crypto.
“Credit and debit cards accounted for less than 8%,” said Sam Woollard, Travala’s chief marketing officer.
Cryptocurrency also appeals to high-net-worth individuals.
“The luxury market has significant potential,” Woollard said. Travala’s Concierge service caters to this segment with personalized agents for premium travel.
Overcoming barriers to adoption
One hurdle to crypto adoption is the technical and infrastructural gap.
“Many travel service providers rely on outdated systems,” said Woollard. “Convincing them to invest in new infrastructure can be difficult, despite the clear advantages.”
“The advantages are compelling. Stablecoins on high-speed networks deliver fees below a cent and near-instant confirmations, with no chargebacks and 24/7 settlement.Massimiliano Silenzi, CryptorefillsShare this quote
Third-party processors, such as Stripe, are working to make travel integration easier. Travel services providers like Emirates, airBaltic, Capella Hotels, and Soneva already accept cryptocurrency payments facilitated through partners.
Cryptocurrency enables direct, bank-free transactions, reducing costs and increasing profit margins. Woollard estimates that the travel industry, which processes over $11 trillion annually, could save $270 billion per year by cutting fees to 0.1% with blockchain-based solutions.
“The advantages are compelling,” said Silenzi. “Stablecoins on high-speed networks deliver fees below a cent and near-instant confirmations, with no chargebacks and 24/7 settlement.”
B2B transactions could also benefit, enabling real-time settlements, eliminating currency exchange risk and reducing the need for prepayments. But not all crypto solutions are equal.
“Bitcoin confirmation can take 30+ minutes, risking time-sensitive bookings,” said Silenzi. “Operators need payment processors offering fast, low-fee networks like Solana, Base and Optimism.”
Crypto compatibility with major exchanges like Coinbase and Kraken allows travelers to pay directly from their accounts, streamlining settlements.
While crypto represents less than 1% of leisure travel spending today, Silenzi predicts it could reach 3% to 5% by 2030, and even double digits by 2035. He attributes this to skyrocketing adoption: from 18 million holders in 2018 to 562 million in 2025 — a 99% annual growth rate.
“The rise of stablecoins and regulatory frameworks like the U.S. GENIUS Act will accelerate mainstream acceptance,” he said.
He also sees long-term growth potential in emerging markets. “A new, digitally savvy middle class is rising — largely unbanked but empowered by smartphones and broadband. Stablecoins could be their entry point to global commerce,” Silenzi said.
On the B2B side, real-time settlement could transform travel payments. “Imagine funds flowing instantly from traveler to airline or hotel, bypassing foreign exchange risk and slashing counterparty risk,” he said.
Real-time settlement could also help OTAs work around regulatory requirements, such as the Revised Payment Services Directive (PSD2), and eliminate the need to hold customer funds altogether.
Cryptocurrency users spend more
There’s another incentive for adoption: higher spending. According to Triple-A, crypto payments averaged 30% higher than traditional ones in 2024. Travel and hospitality represented 14% of those crypto transactions. Airlines offering crypto saw bookings rise by 40%.
Travala noted that crypto users spent 2.5x more per booking and had a 3x higher lifetime value than non-crypto users.
“These users are also 3.5x more likely to stay three nights or longer,” Woollard said, referencing data from 115,000 crypto-paid room nights worth $45 million.
Travala processed over $100 million in booking revenue last year, with $80 million of it in cryptocurrency, marking an 80% year-over-year growth.
Crypto is experiencing growth on two fronts: in developing markets with inflation and unbanked consumers booking budget travel and among elite crypto holders booking luxury experiences.
“Crypto acceptance lets travel providers capture both growing mass-market volume and ultra-premium spenders,” said Silenzi.
Woollard described a “crypto wealth effect,” with users who profit from their crypto gains more willing to spend.
Stablecoins are gaining ground
The volatility of cryptocurrencies, such as Bitcoin, remains a concern. Stablecoins, however — pegged to fiat currencies — offer predictable value with all the benefits of crypto.
“Stablecoin payments now account for about half of our crypto bookings,” Woollard said.
Their appeal is global. In 2024, stablecoin transaction volume surpassed that of Visa by 119% and Mastercard by 200%. PayPal launched its own stablecoin. Dubai has approved several for use within its financial free zone. Abu Dhabi also plans to launch a regulated stablecoin.
“Almost every major bank is thinking about their own digital currency,” said Lemon.
Stripe views stablecoins as meeting the ideal criteria for money: “programmable, instant, secure, low-cost,” Lemon said.
In volatile currency markets, stablecoins could offer B2B users consistency. “Does it seem crazy that 20%-25% of B2B transactions could be on stablecoins in a few years? Not really,” he said.
Almost every major bank is thinking about their own digital currency.James Lemon, StripeShare this quote
Roberto Da Re, CEO and founder of Travel Ledger, agrees that stablecoins are more suitable for B2B transactions.
“That risk gets amplified with large amounts,” he said.
He expects adoption to take off first in less globally connected regions. “Sometimes, tech gets picked up fastest in evolving countries because the need is greater.”
Loyalty and marketing in the crypto era
Blockchain-based loyalty programs offer rewards that don’t expire and can be used across ecosystems. Travala users can earn back up to 10% of each booking in Bitcoin or Travala’s AVA tokens.
NFTs are also finding practical use. Travala’s “Travel Tiger” NFT unlocks top-tier membership benefits, including lounge access and travel giveaways.
“There’s a great opportunity here, particularly for airlines strong in loyalty,” said Cramer.
Blockchain also supports hyper-personalized marketing. Crypto wallet data enables companies to analyze transaction frequency, spend and wallet balances, targeting offers with more precision than traditional methods.
“Using this information, companies can tailor campaigns to over 220 million active users,” said Woollard. Web3 also supports data decentralization, empowering travelers to control what information they share.
A growing opportunity
Cryptocurrency payments are expected to grow at an estimated 17% annual rate. The pace of growth will be incentive enough for travel companies to consider adoption.
“As the market matures, the opportunity is huge,” said Woollard. “Crypto travel payments could multiply five to 10 times from where they are today by the end of the decade.”
Lemon encourages travel brands to explore stablecoins now.
“Take your first call about stablecoins. Listen to your first podcast,” he said. “It’s grown up. It’s stable. It’s part of a technology-led future.”
During an interview in the PhocusWire studio with senior reporter Morgan Hines, Nuvei’s Cramer discussed how crypto is evolving rapidly and becoming more mainstream, with faster transactions and better fiat tracking. He also touched on how adoption is expected to grow particularly in industries such as hospitality, where the technology could mean a cheaper, more efficient way to transfer funds internationally.
Watch the full discussion below:
Phocuswright Europe 2025 Executive Interview: Digital wallets and cryptocurrency developments
