Binance has recently made the announcement that it has made an investment in TravelbyBit, an Australian blockchain startup that has enabled various airports all over the world to accept cryptocurrencies. By the formation of this alliance, Binance and TravelbyBit aim to establish a point-of-sale (POS) payment system all over the world, enabling crypto nomads and travelers to travel without the hassle of obtaining local currency at every stop. TravelByBit will now allow individuals to pay for airport purchased stuff with Binance Coin (BNB). This partnership could also realize the vision of Binance that is, “To travel the world just using our (Binance) coins and tokens.”
TravelbyBit has been the very first startup that has brought forward the use case of cryptocurrencies in places such as airports, where it can be arduous to pay various merchants, due to the difference in currencies. Last May, TravelbyBit completely transformed the Brisbane Airport by equipping them with the necessary tools to accept payment in cryptocurrencies. Binance has teamed up with TravelbyBit as it actually renders this to be a mandatory change that needs to be adopted all over the world.
Many of the merchants on airports making adjustments to be crypto-friendly can be extremely advantageous for blockchain platforms. By using Binance Coin, individuals can now pay for services in crypto at more than 150 establishments, thanks to TravelbyBit’s efforts.
In addition to this, TravelbyBit has also been expanding in countries such as Australia and New Zealand, where more and more retailers and businesses are being familiarized with the decentralized currency and are facilitating crypto nomads. Caleb Yeoh, the CEO of TravelbyBit said,
Imagine traveling with multiple stopovers and only needing a single currency.
The recently encompassed alliance is just a glimpse of what is coming up next. By equipping various organizations with knowledge about digital currencies, Binance and TravelbyBit can add immense value to crypto and its ecosystem. Moving forward the companies plan to bring aboard other blockchain-based platforms to add to the value of the entire blockchain ecosystem. They have also encouraged businesses at airports from all over the world to become a part of this community and incorporate crypto-based payments in order to build a borderless world.