A few hours ago Binance announced that it had entered into a partnership with the Australian platform TravelbyBit, which allows reservations for hotels and flights with crypto payments. The purpose of the partnership would be to launch a crypto card.
#Binance Partners with @TravelbyBit to Launch Crypto-Backed Travel Rewards Card
Load your travel card with $BTC, $BUSD, $BNB, and $ONT to book flights and hotels all over the world!https://t.co/8BTN30KN4K
— Binance (@binance) November 28, 2019
This card will make it easier to use cryptocurrencies to pay for the services offered by TravelbyBit but not only, as it will be usable on other websites.
A prepaid card that can be topped-up with cryptocurrencies such as Bitcoin (BTC), Binance USD (BUSD), Binance (BNB) and Ontology (ONT) and will also offer rewards and discounts.
The aim is to make crypto usable in a simple way and without hidden costs, as stated by TravelbyBit CEO, Caleb Yeoh:
“Many businesses that accept crypto for their services charge users a high premium, which poses a significant barrier to adoption. At TravelbyBit, we want to make crypto usable, provide incentives for early adopters, and see crypto adoption grow. We are excited to work closely with Binance to bring crypto payments to travellers around the globe.”
The collaboration and issuance of the debit card will start next year and will begin in the ASEAN (Association of Southeast Asian Nations) countries, Australia, and Europe, with more countries to follow.
As can be seen, the travel sector is experiencing a positive development and perfect symbiosis with the blockchain and crypto world. Just a couple of days ago, the biggest online booking service for flights and hotels, Booking.com, entered into a partnership with Travala, another important player in the crypto tourism sector.
This represents a great opportunity for Binance as it will allow the exchange to assert its name among the users who have not yet approached the crypto space.
In addition, the card can be topped-up with 2 of its tokens such as BNB and BUSD, bringing a significant advantage both in terms of volume and transactions, allowing Binance to redeem itself from the negative and unfounded wave of FUD news that affected it a few days ago.