Where's the drunk?

This open but hidden approach reveals a signal:Trip.com is not a hot search-level marketing exercise with a stable currency, but more like a controlled, ready-to-pay trial, which can be shut down quietly if it is not appropriate.

This pilot operation is a very low cost to the carrier group, after all, international operations in 2024 accounted for about 10 per cent of the group ' s income. It's important.

According to the information that has been disclosed and repeated, Trip.com The current support is mainly in two United States dollar-stable currencies: USDT and USDC, which support the Etherum, Tron, Polygon and Solana networks.

For the user, this means that it does not bind to the experience of a particular chain, but covers, as far as possible, the most intensive and most common channels of stable currency flows at the moment.

The more critical question is whether this is a self-contained settlement or a third party? According to the public information, Trip.com did not end up in the chain of collection and settlement, but instead accessed the encrypted payment services provided by Singapore's licensed encrypted payment agency Triple-A.

Clearly, the regulatory risk of recourse to a licensed payment agency is much smaller.The Overseas Stabilisation Currency Payment Partner Triple-A, a Singapore-based encryption and stabilization currency payment agency, is under the supervision of the Singapore Monetary Authority and holds a licence for the digital payment of coins.

The Triple-A core product is a payment gateway and payment/payment service for businesses: USDT, USDC (which also includes BTC, ETH) to support U.S.S.Exchange rates can be locked, the risk of volatility and non-payment reduced and the ability to settle the following day ' s bank is provided.

The location is for cross-border collection and settlement at side B, providing integration of API and Pay-by-link. Triple-A has also worked with Grab to receive encrypted assets from Triple-A in some of the scenarios and to exchange them for local wallets.

This also means that Triple-A ' s B-end stabilization currency payment solution has been validated.

That's very important: it explains why. Trip.com It can be paid in a relatively low-risk position. For a large OTA,Self-building means dealing with a comprehensive set of financial infrastructure, such as chain address management, wind control, compliance, reconciliation, refunds and disputes, which is not an easy burden on a tourism platform.

By handing over to a payment service provider such as Triple-A, the essence is to outsource heavy asset work such as chain collection, stabilization currency clearing, and commercial compliance, the platform simply integrates the payment modality into a chain of accounts. Let's be clear:The overseas version sought to stabilize the currency ' s capacity to pay, not to become an encrypted payment company.

In terms of experience details, empirical information also suggests that this is a typical third-party encrypted payment process: the user selects the stable currency after the order, the system generates the collection address, the user transfers the wallets on the specified chain, and the chain confirms the completion of the subsequent order.

Interestingly, the report mentions that in hotel reservation scenes, the requirement to fill in information is very low and orders can be completed only by name and mailbox, while air tickets still need to be filled in with identity information, such as passports, due to aviation industry compliance and real name requirements.