One of the most important aspects of cryptocurrency is adoption.
Without mass adoption by new blood, the future for crypto looks bleak, and there will likely never be another bull run.
As such, it is critical that cryptocurrency projects close deals with major retail-oriented brands to increase visibility and get the word out there.
Over the last month, there has been some movement in this area by a handful of projects.
In this article, I will discuss the ones I found the most promising in terms of spreading awareness about cryptocurrencies.
Ripple partners with MoneyGram
I spoke with @bgarlinghouse at #SwellbyRipple about the @MoneyGram partnership with @Ripple and what's next for the money transfer industry. Using #ODL will strengthen and streamline the settlement engine that lets our customers send money in over 200 countries and territories. https://t.co/tFnq2S3NAJ
— Alex Holmes (@walexholmes) November 8, 2019
As reported by Coin Rivet, Ripple has brokered a new deal with money remittance service MoneyGram.
MoneyGram announced that Ripple had successfully acquired a further $20 million worth of equity in the NASDAQ-listed company having already invested $30 million earlier this year.
The cool thing about the partnership, in my opinion, is that Ripple’s on-demand liquidity technology (ODL) uses XRP digital assets to send money globally and instantly for low fees. This means extra utility for XRP.
Earlier this month, it was also announced that SBI Ripple Asia, a Tokyo-based entity using Ripple’s blockchain technology, launched the first-ever blockchain remittance service between Japan and Vietnam, with near-zero settlement times.
Travala partners with Booking.com
Next, we have some huge news coming from the travel industry.
As reported on the Travala website:
“In signing a Strategic Partnership Agreement with the giant online travel agency Booking.com, the world’s leading cryptocurrency-friendly travel booking platform Travala.com with over 2 million accommodation listings globally has heralded a new approach to bringing cryptocurrency adoption to the masses.”
Essentially, customers on Travala are able to pay for hotels with the proprietary AVA token and 20 other leading cryptocurrencies, in addition to traditional payment methods.
Matt Luczynski, CEO of Travala, said:
“This partnership allows our users to access Booking.com’s accommodation listings, as well as the listings from several other leading travel suppliers, which is a fantastic use case for our own AVA token and another huge step towards mass cryptocurrency adoption.”
StormGain sponsors Newcastle United
— StormGain (@StormGain_com) October 25, 2019
Last but not least, there’s StormGain. I first found out about this partnership while watching an episode of Ivan On Tech, one of my favourite cryptocurrency video podcasts and one that I highly recommend.
Dale Aitchison, Newcastle’s head of commercial, announced:
“We are always looking to support the club’s development by pursuing new commercial opportunities, and this represents another important partnership for the club.”
StormGain, which joins online gaming company Fun88 on Newcastle’s shirts, will also offer the club’s fans the chance to take part in a range of promotions, with prizes including the opportunity to attend matches and club training sessions.
The reason why I like these types of partnerships and sponsorship deals is because they can bring a great deal of users to crypto.
More people will join the crypto space as more companies spend money on promoting their services.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.