According to the latest update, Binance has invested $2.5 Million in the fresh Australian Cryptocurrency payment startup, Travelbybit. Binance is one of the largest cryptocurrency exchange in the world. Cryptocurrency payment applications and platforms are designed to avail the facility of pay with Bitcoin or other cryptocurrencies.
This investment of Binance in TravelbyBit is with the motive of its expansion and adoption throughout the world. These investments are generally made with the purpose of expansion of cryptocurrency payment terminals.
As per the sources, these two companies Binance and TravelbyBit have come together to introduce the point-of-sale (POS) system that is developed by TravelbyBit into the larger and renowned airports around the world.
Changpeng Zhao, Chief Executive of Binance stated to the media –
“Let’s start with airports and go from there…Real, on-the-ground, just-when-you-need-it use case is the key to further crypto adoption. In this light, there is no better fit than being able to use your crypto when traveling, just after you land in a foreign country, where you may not have the local currency.”
TravelbyBit has become one of the best startups in the cryptocurrency domain. They have developed the system in which the traveler is allowed to pay with Bitcoin, Ethereum, Bitcoin Cash etc.
On this, the CEO of TravelbyBit added-
“Imagine traveling 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.”
This latest update clearly demonstrates how cryptocurrency is growing in every industry around the world. In fact, Australian beach town, Agnes Water has been given the title of “Australia’s First Digital Currency Town” as a customer can pay with bitcoin for every service including accommodation, pub payments etc.
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