The renowned Asian exchange house, Binance, sealed an agreement with the Australian startup TravelByBit, in order to expand the latter’s system of crypto payments that the company launched at Brisbane airport. The Asian company will invest about $2.5 million dollars in the Australian startup to achieve that.
Binance invested $2.5 million in the Australian startup’s crypto payments project to expand it globally.
TravelByBit started the Brisbane airport crypto project in January of this year. The idea is that airport users have the option to use crypto payments to minimize the problems associated with foreign exchange. From souvenirs to restaurants and transportation, Brisbane airport has become a pioneer in the adoption of cryptos.
“Let’s start with the airports and go from there. A case of real use, just when you need it, is the key to greater adoption of cryptocurrencies. In this sense, there is no better option than to be able to use your crypto coins when you travel, right after landing in a foreign country, where you may not have the local currency,” said Chanpeng Zao Binance CEO.
The Australian TravelByBit startup developed a user-friendly crypto payment POS system
This tool is crucial in the development of the Brisbane airport crypto payment and allows users to pay in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Dash (DASH). To this list will soon be added the native cryptocurrency the new investor, Binance, the ERC20-token called Binance Coin (BNB).
“Whenever you travel abroad, you must deal with different currencies and never know precisely the exchange rates that banks are charging to your account. Here at TravelByBit, we are promoting the Bitcoin (BTC) movement. It’s simple, safe and there are no bank fees,” explained TraverlByBit CEO Caleb Yeoh after the program’s launch at the Brisbane airport in January of this year.