The largest trading volume of the cryptocurrency exchange Binance is investing $2.5 million in the payments startup TravelbyBit from Australia. About this ForkLog said the representatives of the exchange.
Through joint efforts, the companies intend to promote block chain technologies in a global scale. On borrowed funds TravelbyBit will introduce a system of cryptocurrency payments at airports around the world and improve operational processes.
“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 local currency”, — said CEO Binance, Chanpen Zhao.
Platform TravelbyBit accepts payments in bitcoin, Litecoin, and Ethereum. Soon visitors to the airports, collaborating with a startup will be able to use Binance Coin (BNB).
Note, the Queensland government has allocated TravelbyBit a grant of 100,000 Australian dollars for business development. It is expected that the payment company will provide jobs to residents of the region.
In January the administration of the Brisbane airport has announced a partnership with platform TravelbyBit. In June, pharmacy in the Australian city in Dee why also joined the startup.
ForkLog previously reported that the blockchain incubator Binance Labs has invested several million dollars in the decentralized project for the development of digital content Contentos.