One of the leading agencies in the luxury travel sector has begun offering its advisors the option to receive payments in cryptocurrency, marking a significant development in the industry’s adoption of digital assets.
New Payment Method for Advisors
Embark Beyond, a prominent luxury travel agency, has started allowing its advisors to be paid in cryptocurrency. The agency announced that this initiative aims to provide greater flexibility and meet the evolving preferences of its workforce. Advisors now have the choice to receive their earnings in Bitcoin, Ethereum, or USDC, a stablecoin pegged to the US dollar.
Motivation Behind the Move
Jack Ezon, managing partner at Embark Beyond, stated that the decision to offer cryptocurrency payments was influenced by growing interest among advisors. “We have a number of advisors who are very interested in crypto and wanted to be paid in it,” Ezon explained. He added that the agency’s goal is to stay ahead of trends and provide options that align with the interests of its team.
Implementation and Security
Embark Beyond partnered with BitPay, a cryptocurrency payment service provider, to facilitate these transactions. The agency emphasized that payments are processed securely, with advisors able to select their preferred cryptocurrency for each payment cycle. Ezon noted that the process is designed to be straightforward and secure for all participants.
Industry Context
While cryptocurrency has seen increasing adoption in various sectors, its use in the travel industry remains relatively limited. Embark Beyond’s move represents one of the first instances of a major luxury travel agency offering crypto payments to its advisors. Ezon commented that the agency is closely monitoring the response and is prepared to adjust the program as needed.
Future Outlook
According to Ezon, the agency will continue to evaluate the effectiveness of cryptocurrency payments and consider expanding the program if demand grows. He mentioned that the initiative is part of a broader effort to innovate and provide value to both advisors and clients.
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