Binance investing in Australian startup TravelbyBit

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On the eve of the cryptocurrency exchange Binance announced that it is investing $2.5 million in the Australian startup TravelbyBit, which introduced the payment in cryptocurrency in Brisbane airport. Cooperation with Binance TravelbyBit ensure the development of a global cashless payment system at major airports around the world.

It should be noted that Binance is a blockchain ecosystem, which consists of exchanges, incubator Labs, the Academy, charity Fund, etc. In turn TravelbyBit is a global provider blockchain payments in the tourism industry, allowing you to accept cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Also multi-currency payment platform that provides booking services for travelers paying in bitcoin.

CEO Binance, Chanpen Zhao, commented:

“Real examples of usage is a key factor on the way to the introduction of cryptocurrencies. And it’s hard to come up with an example for the use of cryptocurrency is better than traveling, because immediately after landing in a foreign country you may not be the local currency. In the framework of its long-term plans TravelbyBit shares our vision and values, and we are pleased to work together with them for the benefit of the blockchain economy.”

Binance has an audience of nearly 10 million users, which is experiencing a shortage of places where you can use cryptocurrency. For the past year TravelbyBit cooperates with various companies in the field of payment cryptocurrencies. The joint efforts of the company intend to promote the introduction of blockchain technology worldwide.

Through global reach Binance also intends to attract the attention of its 10 million audiences to travel to Australia and the ability to pay with cryptocurrency. Investment Binance in the amount of $2.5 million will help TravelbyBit to establish operational processes, creating more jobs in Queensland.

Caleb Yeoh – TravelbyBit CEO, added:

“Payments on the blockchain are capable of making global trade more efficient due to the elimination of differences in exchange rates. Imagine traveling the world with stops in different places and you only need a single currency. We work with the most innovative airports and retailers who want to offer their customers alternative methods of payment and to experiment with the most advanced technologies.”

Thus, in the selected airports, such as Brisbane, travelers can visit the shops in airports and to use a mobile cryptocurrency wallets for quick, easy and safe cashless payments.

It is important to mention that the Minister for innovation and tourism Queensland Kate Jones expressed his approval of this initiative and the Queensland government under the leadership of Anastasia, Palasek TravelbyBit has allocated a grant of 100,000 Australian dollars.

Representatives of major airports and retailers can contact Caleb Yekom, SEO, project and team responsible for retail payments email: [email protected]

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