Webus International has announced a new partnership with Air China, enabling XRP payments in loyalty and travel programs, impacting over 60 million members.
Partnership between Webus International and Air China
Webus International confirmed its partnership with Air China, one of the largest airlines in China. This agreement provides the company direct access to PhoenixMiles, the airline's loyalty program with over 60 million members. The partnership is aimed at implementing XRP payments in global travel, and simplifying processes using blockchain technology. Webus expressed its intention to reduce delays and extra costs often seen in cross-border transactions.
Impact on the XRP Market
As Webus announced its partnership, analysts in the XRP community discussed potential changes on the XRP Ledger. Three key technical changes were discussed that could increase interest from banks and investment funds, including KYC and AML standards for digital wallets. The adoption of such technologies may encourage the accumulation of XRP in liquidity pools, potentially making the token scarcer for retail users.
Ripple Labs Support and Ecosystem
Ripple Labs, the company behind the development of XRP, continues to support projects like Webus. Ripple's network connects financial institutions and facilitates the creation of corridors for faster settlements. Webus is an example of how Ripple supports new partnerships in travel and payments. The partnership with Air China and planned protocol upgrades highlight the growing interest in XRP as a tool for quick and low-cost settlements.
The agreement between Webus International and Air China opens new opportunities for utilizing XRP in the travel and loyalty sectors, which may significantly impact the future development of cryptocurrency in the market.
