Binance invests $2.5M in Australian startup TravelbyBit

posted 8 months ago
Binance has announced a $2.5 million investment in Australian travel startup TravelbyBit in a move to introduce a blockchain-based, point-of-sale (POS) payment system across major airports around the world. Travelers will be able to visit local merchants at select international airports and use mobile wallets like Coinomi for POS payments. "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," Changpeng Zhao, CEO of Binance, stated in the announcement.

TravelbyBit's partnership with Binance will allow the startup to introduce its blockchain-based POS system, currently being used at the Brisbane airport, into other international airports worldwide, so travelers can pay with Bitcoin across the world's airports, without the need to exchange to fiat currencies at expensive rates.
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