Trip.com Tests Stablecoin Payments Overseas, Signaling a Shift in Global Travel Settlement Systems

The stablecoin trial is currently limited to overseas markets and select travel products, including hotel and travel package prepayments, and is not available to mainland Chinese users. By integrating USDT and USDC, which are both pegged to the U.S. dollar, Trip.com enables travelers to bypass traditional card networks and correspondent banking systems that often involve high foreign exchange fees, settlement delays, and payment failures. Stablecoins allow near-instant settlement at significantly lower costs, which is particularly attractive for international travelers, digital nomads, and users in regions with underdeveloped banking infrastructure.

From an operational perspective, the test addresses long-standing pain points in the global travel industry. Travel platforms typically face delayed fund settlement from overseas card processors, exposure to currency volatility, and higher chargeback risks. Stablecoins settle almost immediately on blockchain rails and reduce dependency on intermediaries, potentially improving cash flow management and lowering transaction costs. For consumers, especially those already holding digital assets, stablecoin payments offer price transparency and eliminate repeated currency conversions across borders.

The trial also aligns with a broader global trend in which large technology and commerce platforms are cautiously experimenting with blockchain-based payments without directly engaging with volatile cryptocurrencies. USDT and USDC are widely used in international trade, remittances, and decentralized finance, and their adoption by a mainstream travel platform signals growing acceptance of stablecoins as functional payment instruments rather than speculative assets. This development comes as regulators in multiple jurisdictions, including Hong Kong, Singapore, and the European Union, move to formalize stablecoin oversight frameworks to ensure reserve transparency and consumer protection.

While the test remains small in scale, its strategic implications are significant. If expanded, stablecoin payments could reshape how global travel platforms manage cross-border transactions and compete on pricing. For Trip.com, the initiative reinforces its positioning as a technology-driven global travel player rather than a purely Chinese platform. The outcome of the pilot will likely depend on regulatory clarity, user adoption, and the platform’s ability to integrate stablecoins seamlessly with existing compliance and risk management systems.