Binance invests in TravelByBit
Binance invests in TravelByBit

Binance invests in TravelByBit

By Amelia Tomasicchio - 3 Oct 2018

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Binance has just invested $US2.5 million in TravelbyBit, an Australian company that deals with blockchain payments for the tourism industry.

The two companies will work together to introduce a point-of-sale (POS) payment system using blockchain technology.

This payment method will be made available at most major airports around the world.

TravelbyBit was created to help merchants accept crypto payments during the booking process of the most common travel agency services.

Changpeng Zhao, CEO of Binance, explained: “Look for TravelbyBit and put your coins (hopefully the Binance Coin or BNB) to use. Let’s start with airports and go from there”.

TravelbyBit offers the possibility to accept bitcoin, ethereum and litecoin payments but, after this investment, TravelbyBit will also add Binance Coin (BNB).

Caleb Yeoh, CEO of TravelbyBit, explained that blockchain payments remove the friction of the exchange between different currencies: “Imagine travelling with multiple stopovers and only needing a single currency. We’re working with the most innovative airports and retailers who want to offer their consumers non-traditional payment options and a chance to experience cutting-edge technology”.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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