Bestkoin, a cryptocurrency focused on the tourism sector, has been officially launched in Brazil on November 13th.
The United Arab Emirates based company, co-founded by entrepreneurs Pedro Ribeiro and Pedro Ferreira has attracted international investors and business stakeholders from the sector.
“We have signed an agreement with Agaxtur, one of the largest international tourism operators. The company will be yet another which accepts Bestkoin for service payments. Without a doubt this is a milestone for the industry,” concludes Pedro Ferreira.
On board too is Brazilian fintech Uzzo for cryptocurrency payments using Mastercard which will be Bestkoin’s gateway to international expansion.
The aim of the initiative is to provide a transparent tool for travel agencies, tour operators and tourists by ensuring cost savings, better fares and faster, more practical and efficient transactions and services.
Brazil was chosen as the country to roll out the currency because it is considered one of the best countries in the world for adventure tourism, according to Best Countries international rankings.
And Brazil is also one of Latin America’s top three destinations according to the United Tourism Organization.
International tourism figures, which represent 10% of the world’s Gross Domestic Product (GDP) and make up the third largest export sector in the world, will continue to grow, with an increase of between 3% and 4% of foreign tourist arrivals in the world by the end of 2018.
“The tourism industry continues to grow worldwide. It is an excellent niche market for companies that offer innovative services making life easier for entrepreneurs and travelers, without compromising online security,” adds Pedro Ribeiro.