ZUG, Switzerland, Jan. 17, 2025 (GLOBE NEWSWIRE) — The Web3 travel ecosystem, Camino Network, has had its native token introduced on two prominent centralized exchanges: MEXC and Gate.io. As the travel-focused L1, Camino Network introduces TravelFi, RWA tokenization, and NFT ticket sales to the $11 trillion travel sector. The $CAM token already supports an ecosystem encompassing over 200 brands, including significant tour operators, airlines, car rental agencies, and technology leaders prior to its launch.
CAM was introduced on the MEXC exchange on January 17th, where it has been paired with USDT. This was further complemented by a listing on Gate.io on the same day, using USDT as its primary trading pair.
The listing of CAM on top-tier exchanges like MEXC and Gate.io will enhance accessibility to CAM and the Camino Network while augmenting the liquidity of the token. This will also increase awareness of the swift advancements Camino is making in its mission to revolutionize the travel sector with web3 technology.
The exchange listings come after seed and pre-sale rounds in Switzerland that accumulated a total of $10 million to develop Camino Network’s infrastructure. With its mainnet now operational and over 100 travel industry validators and 200 businesses engaged, the groundwork is laid for the next stage of Camino’s global expansion, driven by the CAM token.
Thomas Stirnimann, Council President of the Camino Network Foundation, remarked: “With validators and partners spanning almost every continent before our launch, Camino Network distinguishes itself from other initiatives. Our next objective is clear: fostering ongoing growth to link all travel on-chain.”
As a general-purpose utility token with a fixed supply of 1 billion, CAM fulfills several functions within the Camino Network. It is incorporated into Camino Messenger, the first worldwide decentralized booking protocol tailored for the travel industry, allowing entities like Lufthansa Group to transmit real-time updates on flight schedules, seat availability, and pricing directly to travel agencies and booking platforms.
Within the expanding Camino ecosystem, CAM facilitates transactions. In addition, CAM is vital for conducting on-chain travel operations and is necessary for partaking in decision-making processes. Validators can earn CAM rewards by contributing to network security. Meanwhile, travelers can access exclusive deals and discounts from travel providers such as airlines and hotels by holding CAM tokens.
Camino Network is the first Layer 1 built specifically for the $11 trillion travel sector. It aims to address significant industry challenges, including high transaction fees, prolonged settlements, and complicated reconciliations. The network is already handling real business transactions, with hundreds of brands developing dApps and web3 travel B2B and B2C solutions.
Matt Law, Chief Commercial Officer at Outlier Ventures, stated: “Camino Network’s cutting-edge method of integrating blockchain technology into the travel sector is revolutionary, creating an ecosystem that amplifies efficiency, security, and transparency in travel transactions. Their dedication to open-source solutions and unified travel data standards positions them as a leading force in the Web3 travel ecosystem, and we take pride in including them in our portfolio through our Ascent Program. We are confident that Camino Network will persist in driving notable progress in travel technology, and we eagerly anticipate their continued influence on the industry.”
Engineered to streamline travel bookings, loyalty programs, hotel, airline, cruise, or rental car systems, Camino connects millions of travel providers with major brands such as the €35 billion Lufthansa Group, DERTOUR, and TUI already participating. The network replaces countless APIs with a cohesive request-response model, creating an interconnected travel industry and seamless travel experiences.
About Camino Network
Camino Network is the Layer 1 blockchain tailored explicitly for the travel industry. Managed by a coalition of industry leaders, Camino transforms the distribution landscape and overcomes connectivity, payment, and settlement issues in the multi-trillion-dollar travel sector. Supported by over 200 brands, more than 100 validators, and in excess of $10 million in funding, Camino is steering the future of web3 travel.
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Disclaimer
All marketing communications regarding the CAM token released by the Camino Network Foundation are for informational purposes solely, unless specifically indicated otherwise or issued in association with legal or statutory reporting obligations. Certain statements in this CAM token marketing communication may be forward-looking or express particular expectations for the future and are based on presently available information. They are made on an “as is” basis without any express or implied guarantee of fitness for a particular purpose or merchantability and may be subject to modification without prior notice. The Camino Network Foundation does not guarantee the correctness, completeness, accuracy, reliability, or timeliness of the data. To the extent permitted by law, any claims for damages related to decisions or actions taken based on this press release are excluded and expressly disclaimed.
This marketing communication for crypto-assets has not been assessed or sanctioned by any competent authority in any Member State of the European Union. The issuer of the crypto-asset holds sole responsibility for the content of this marketing communication focused on crypto-assets. NOTHING IN THIS CRYPTO-ASSET MARKETING COMMUNICATION CONSTITUTES A PROSPECTUS OF ANY TYPE, A SOLICITATION FOR INVESTMENT OR INVESTMENT ADVICE, OR AN OFFER TO SELL OR A REQUEST TO PURCHASE ANY SECURITIES IN ANY JURISDICTION.
Contact:
Thomas Stirnimann
hello@camino.network
A photograph accompanying this announcement is available at