The crypto currency exchange Binance is investing $2.5 million in the Australian Blockchain startup




Exchange Binance intends to move its headquarters from China to Japan after the suppression of the PBoC against the local cryptocurrency companies. In addition, currently the company also plans to open an office in Australia, as it has invested 2.5 million USD in one of the local blockchain-related startups.

The report says that Binance works with TravelbyBit in Queensland to develop a payment system point-of-sale (POS) for airports around the world.

To encourage travelers to adopt digital currency partnership Binance and TravelbyBit will allow merchants in international airports to accept payments in Bitcoin and other digital assets. In addition, the company will allow travelers to book travel plans using digital currencies.

Chanpen, Zhao, CEO of Binance, said that there is no better way to use the digital currency than for travel, and, as expected, TravelbyBit will make the process more accessible for people.

Traditionally, travelers rely on expensive cards or forex over the counter (OTC) solutions for the exchange of local currency for foreign. This process also has unrealistic exchange rates. For example, travelers paid more than the current exchange rate when buying foreign currency. Similarly, during the sale of foreign currency, the sellers reimburse less than the actual rate. It is a common practice.

Zhao said that TravelbyBit will be easier than its traditional counterparts, affirming that the travellers will only need to fill your wallet cryptocurrency, such as Bitcoin and Binance Coin to pay for the services directly.

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