ZUG, Switzerland, Jan. 17, 2025 (GLOBE NEWSWIRE) — Web3 travel ecosystem Camino Network has had its native token listed by two leading centralized exchanges: MEXC and Gate.io. As the travel-specific L1, Camino Network brings TravelFi, RWA tokenization, and NFT ticketing to the $11tn travel industry. $CAM already powers an ecosystem of over 200 brands, including major tour operators, airlines, car rental companies, and tech giants before its launch.
CAM was listed by MEXC exchange on January 17th, where it has been paired with USDT. This has been accompanied by a listing on Gate.io, where CAM went live on the same day with USDT as its base trading pair.
The listing of CAM on tier-one exchanges by MEXC and Gate.io will expand access to CAM and to Camino Network and deepen the token’s liquidity. In the process it will raise awareness of the rapid progress Camino is making in its goal to transform the travel industry using web3 technology.
The exchange listings follow on from seed and pre-sale Swiss rounds that raised a total of $10M to build out Camino Network’s infrastructure. With its mainnet now live and more than 100 travel industry validators and 200 businesses active, the stage is set for the next phase of Camino’s global growth, powered by the CAM token.
Thomas Stirnimann, Council President of the Camino Network Foundation, said: “With validators and partners on nearly every continent before launch, Camino Network stands apart from other projects. Our next step is clear: driving continued growth to connect all travel on-chain.”
A general purpose utility token with a 1B fixed supply, CAM performs a number of roles on Camino Network. It’s integrated into Camino Messenger, the first global decentralized booking protocol for the travel industry that enables players like Lufthansa Group to share up-to-date flight schedules, seat availability, and prices directly with travel agencies and booking platforms in real time.
Within the growing Camino ecosystem, CAM is used to facilitate transactions. Furthermore, CAM is essential for executing on-chain travel operations and a requirement for participating in decision-making processes. Validators can earn CAM rewards for helping to secure the network. Travelers, meanwhile, can gain access to exclusive offers and discounts from holiday providers including airlines and hotels by holding CAM tokens.
Camino Network is the first L1 built specifically for the $11tn travel industry. It aims to solve critical industry pain points including high payment fees, slow settlements, and complex reconciliations. The network is already processing real business transactions with hundreds of brands building dApps and web3 travel B2B and B2C products.
Matt Law, Chief Commercial Officer, Outlier Ventures, said: “Camino Network’s innovative approach to integrating blockchain technology within the travel industry is transformative, creating an ecosystem that enhances efficiency, security, and transparency in travel transactions. Their commitment to open-source solutions and unified travel data standards positions them as a pioneering force in the Web3 travel ecosystem and we are proud to have them in our portfolio through our Ascent Program. We are confident that Camino Network will continue to drive significant advancements in travel technology, and we look forward to witnessing their ongoing impact on the industry.”
Designed to consolidate travel booking, loyalty programs, hotel, airline, cruise or rental car backends, Camino connects millions of travel suppliers with major brands such as the €35 billion Lufthansa Group, DERTOUR and TUI already on board. The network replaces thousands of APIs with a unified request-response model, creating an interconnected travel industry and seamless travel experiences.
About Camino Network
Camino Network is the Layer 1 blockchain built specifically for the travel industry. Operated by a consortium of industry leaders, Camino transforms the distribution landscape and solves connectivity, payment and settlement challenges in the multi-trillion-dollar travel sector. Backed by 200+ brands, 100+ validators, and over $10 million in funding, Camino is driving the future of web3 travel.
Learn more: https://camino.network/
Disclaimer
All CAM token marketing communication issued by Camino Network Foundation is for information purposes only, unless expressly stated otherwise or issued in connection with information required by law or statutory reporting obligations. Certain statements in this CAM token marketing communication that are forward-looking or contain specific expectations for the future are based on currently available information. They are made on an “as is” basis without any express or implied warranty of fitness for purpose or merchantability and are subject to change without notice. Camino Network Foundation does not warrant the correctness, completeness, accuracy, reliability, or timeliness of the information. To the extent permitted by law, any claims for damages in connection with decisions or actions taken based on this press release are also excluded and expressly disclaimed.
This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication. NOTHING IN THIS CRYPTO-ASSET MARKETING COMMUNICATION CONSTITUTES A PROSPECTUS OF ANY KIND, AN INVESTMENT OR INVESTMENT ADVICE SOLICITATION, OR AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION
Contact:
Thomas Stirnimann
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68a9b184-b2c8-496c-9962-e4330f7c1664
