Binance invests $2.5 Million into Australian Start-up TravelbyBit
Binance has invested $3.5 million into Queensland blockchain start-up TravelbyBits as reported by Business Insider Australia. The investment is to help incorporate blockchain technology into major airports around the world. Those who buy crypto already may soon be able to use them in these airports.
TravelbyBits is a blockchain payment platform and travel company that books services on behalf of travellers using cryptocurrency. With the introduction of point-of-sale payment systems they hope to make digital currency tourism available to the world using secure payments.
These point-of-sale systems will enable merchants to accept payment in cryptocurrencies increasing the use cases to buy Bitcoin. The multicurrency platform currently supports Bitcoin, Ethereum and Litecoin soon adding the option to use Binance Coin. Users can already buy Ethereum to use in selected merchants.
The CEO of Binance, Changpeng Zhao, has shown his interest in the project “Imagine traveling with multiple stopovers and only needing a single currency”. Due to how the system works a user can buy Bitcoin and only Bitcoin for their payments.
As the platform grows, we could see more cryptocurrency support added such as EOS. In turn increasing its functionality potentially inducing more to buy EOS. With the backing of the biggest exchange, TravelbyBits is certain to innovate payments for the travel industry.
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