Cryptocurrency News – Australian crypto start-up Travelbybit finds a marquee name investor in Binance

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The Australian start-up TravelbyBit did a pilot run of cryptocurrency payment terminals in Brisbane. That is why the proof in concept is already there. It seems like it has managed to convince one of the largest cryptocurrency exchanges in the world that its business model is sound. Recently, Binance invested $ 2.5 million in this Australian crypto payments start-up.

Binance invests $ 2.5 million in Australian cryptocurrency payments start-up:

Binance has been on an expansion spree. However, it is not that much active in Australia in terms of expansion. That is why it seems like Binance is finally paying attention to the southernmost continent. It has invested US$ 2.5 million in the cryptocurrency start-up. This will help the start-up in expanding its network of point of sale terminals as well. As the point of sale terminals expand, it will become easier for the company to provide cryptocurrency payment services to the consumers all over the country. As a result, travelers who are traveling in Australia will be able to pay with the help of cryptocurrency. They will not have to worry about currency conversion or about the markup fees as well.

Binance is already an established player in the cryptocurrency industry. On the other hand, TravelbyBit has a unique solution which will enable the travelers in Australia to use cryptocurrency rather than the currencies of their own country. This will ensure that they are able to save a significant amount of money. They will be able to save a lot of time as well as they will not have to worry about the currency conversions. With the help of these point of sale terminals, direct crypto payments will be made possible as well.

Earlier, the start-up had tried out the point of sale terminals network at the Brisbane International airport. It received positive response. Moreover, it worked seamlessly as well. This clearly indicates that the technology of the start-up is in operational stage.

Also, the cryptocurrencies which will be used by the travelers will not be just limited to Bitcoin (BTC). Most of the ERC 20 tokens can be used as well. Additionally, Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH) can also be used. There are a wide variety of different cryptocurrencies which can be used at the point of sale terminals as well. This will ensure that travelers are able to easily use the cryptocurrency which they have in their portfolio. As a result, it will become much easier for them to spend the cryptocurrencies directly rather than having to convert their local currency or cryptocurrency into actual dollars and then the native currency.

Thus, it seems like Binance is finally paying attention to the off-line uses of cryptocurrencies as well and investing in start-ups accordingly.

About Riddhi 224 Articles
I am an electronics engineer and follow the crypto space closely.

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