Binance, one of the largest cryptocurrency markets, has backed Australian distributed ledger technology (DLT) payment company TravelByBit, the exchange said in a statement on Wednesday. The exchange poured A$ 3.5 million ($2.5 million) into the startup with the goal to develop a point-of-sale payment system across airports worldwide.
The TravelByBit platform has already been integrated into Brisbane’s airport. The startup, founded last year, enables cryptocurrency payments for tourists across Australia without the need to exchange fiat currencies at high rates. It offers to buy goods and services including booking services by using virtual coins. The company has contracts with various merchants, from shops to golf resorts.
“Imagine traveling with multiple stopovers and only needing a single ...
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