- Briefing Your roundup of Asian tech and startup news that matter
Terence Lee · · 1 min readIn brief: Top crypto exchange Binance invests $2.5m in Australian blockchain startup
Cryptocurrency exchange Binance today announced it is investing over US$2.5 million in Australian startup TravelbyBit. Binance will work with TravelbyBit to introduce a global point-of-sale (POS) payment system, integrating blockchain technology into major airports around the world.
At selected international airports such as in Brisbane, travelers will now be able to visit merchants and pay with digital currency.
TravelbyBit currently supports payments in Bitcoin, Ethereum, and Litecoin, and will soon support Binance Coin. Binance will help generate interest among its users to travel to Australia and paying with digital currency.
Source: Press release
Binance is the top cryptocurrency exchange in the world by trading volume, according to CoinMarketCap. It has transacted US$884 million worth of currency in the past 24 hours. The company has launched its own incubation program in a bid to create a blockchain ecosystem and encourage widespread adoption of cryptocurrency.
In addition to the investment from Binance, TravelbyBit has also secured US$70,000 from the Advance Queensland Ignite Ideas grant.
Editing by Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
