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$2.5 Million: Binance Invests in Aussie Crypto Payments Startup to Push Adoption
Australian cryptocurrency payments startup Travelbybit has seen a cash injection of $2.5 million from a high-profile investor in Binance, the world’s largest cryptocurrency exchange.

Crypto unicorn Binance is investing AUD $3.48 million (approx. USD$2.5 million) in TravelbyBit to further expansion of the latter’s network of cryptocurrency payment terminals following a successful implementation in Brisbane earlier this year, Business Insider Australia reported on Wednesday.

The two companies will jointly collaborate in introducing a point-of-sale (POS) system – already developed by TravelbyBit – into “major airports around the world,” the report added. The objective is to propel cryptocurrency adoption among travelers who commonly see friction in currency conversion and other markup fees.

Binance chief executive Changpeng Zhao said:

“Let’s start with airports and go from there…Real, on-the-ground, just-when-you-need-it use case is the key to further crypto adoption. In this light, there is no better fit than being able to use your crypto when travelling, just after you land in a foreign country, where you may not have the local currency.”
https://www.ccn.com/2-5-million-binance-invests-in-aussie-crypto-payments-startup-to-push-adoption/

The team of Binanse is just great and calculates the future of cryptocurrencies.
Why create a network of terminals from scratch, if there is an opportunity to invest in an already started and promising project.

It's a great service and I appreciate it. We travel to other countries and spend too much time changing currency and it is very inconvenient. This will definitely be a successful collaboration and Binance is making more and more people happy about them.

The vision is great, and the initiative is also good though the niche market is somewhat off if they want to push adoption. Other market areas could be targeted and better results could be extracted, say for example a restaurant, some gift and novelty shops, supermarkets etc. Not everyone travels on a regular basis, and most travelers on the regular are busy doing things and would probably just use their cards for payment and not bother what bitcoins are. Anyway, just my two cents.

I read the news this morning and seriously speaking Binance is really taking crypto business very serious, they want to remain on top and it's really good, they have invested in a couple of blockchain technology recently and also they are building their decentralized exchange, I think binance will remain at the top for a long time to come

Exactly, they're really looking at every opportunity to expand their product and at the same time bring people's awareness on cryptocurrency, good call for them. Although the amount invested in just small I'm sure they're tapping on a already existing business model that's already a win-win situation. The travel/tourism is a billion dollar industry so it makes sense for them to really test the waters so to speak and really expand their operations world wide.

It's a great service and quite appreciable. Binance is really taking crypto business very serious.I think it'll remain at the top for a long time to come.

The innitiative is great and it is beneficial for the market. Binance is doing a great job. This fact is certainly noteworthy

A step like this means great things for cryptocurrency as it'll increase in popularity as more and more people will be aware of it and use it

What they've done is realized that in order for them to have success the industry as a whole must have success and that's why they support other projects with both finances and advice. Travel money is one of the most likely ways of crypto to make a breakthrough to the mainstream market.

that's the smartest decision I've heard today. For once I was thinking what would be the point of putting it in airport but then you realize how much potential is there at the airport for this kind of technology. When you're picking travelers you're picking very diverse set of group which can really boost the use of crypto. Everybody travels, airports are filled with people from different background. I think this is much much better than putting it in retail shop where you are stuck with narrow set of consumers who're all interested in one thing, getting in and getting out of the store. Whereas, at the airport people have to wait for hours and they're more likely to try crypto.

This is another great one because $2.5 million is a large some that will effect the market significantly and at that there will be more accessibility of the market the payment startup if properly managed Aussie is going to be the world number one choice when it comes to making payments. Good move there by Binance.

thats was intresting information, we know that binance are large exchange company that many people are getting into that, maybe it can become good project in the future that people are waiting for it

I have always admire Binance and its contributions to cryptocurrency development. This is just another great stride from the company. No wonder it will remain the top cryptocurrency exchange in the world.

I cam across the news days ago and i was very pleased by the news because Binance has been spending a lot of money spending their business so that they won't base their income solely on binance exchange. also they are building and have test their decentralized exchange which they will launch in the near future and I feel binance are ahead most of the exchange and i think they will continue with exchange with high volume. 

Binance is a great exchange, arguably the best in the space at the moment. I carry out over 80% of my trades on their platform. Their investment in Aussie crypto payments startup, Travelbybit is a huge development

Well, this is good but it is only for those that are already owning cryptocurrency. Not everyone owns cryptocurrency and those who don’t have it won’t be interested at all no matter how much you try to push them into. We all have choice and I’m not the kind of person that leaves much of my money in cryptocurrency cause I know what follows, price can fall at anytime or maybe rise. But whatever, like I said before s, it is good.

I think that binance is wise in his investments ! This is one of the best exchanges that I know and ready to listen to their opinion !

This CZ dude has been improving their brand insanely by purchasing new stuff and pushing forward their company.

Binance was a trading company but if it keeps going with this I think they could literally become a tech giant as well and I can see it getting bought of making CZ big. That is what the wall street people want to see, a company getting big quickly and than to keep that profit income steady buying other companies and making their value bigger and bigger, look at facebook, how many people use facebook anymore ?

It is not as big as it used to be, however they bought whatsapp and instagram, look at google they bought youtube and many others, binance is on the road to be crypto version of these companies.

It's great to see that an exchange cares about cryptocurrencies being used properly! I mean, they profit from cryptos being constantly traded as if that was the main purpose of their creation, but also care about developing ways to help people use cryptocurrencies to purchase goods and services! Terminals accepting payments in coins is like a dream to me! For now it is mainly as if owning btc wasn't the same as possessing money. One usually needs to convert it to 'real' money first. I hope more companies will try to help make crypto payments possible.

i heard few weeks back they started this program as well https://www.binancelabs.co/ but this seems something completely unrelated with it

the Binance market is pretty great, this news shows the Binance market is serious about wanting to remain the Best Crypto Market in the world and I think the Binance Market will be the best market for a long time, but I don't know what markets dare to compete with Binance market

I will look after the startup Travelbybit. Most likely, in the future Binance will list tokens on their exchange and will pump the price to get the maximum profit. If it is, then I will definitely take the chance.

Binance is making a lot of money with their business, its nice that they are returning a part of their earnings back in crypto. Why not, they have benefit from crypto popularization in every sens of that word, when more people join this community, like all of us they will have to choose where to trade and buy other altcoins, or tokens, what ever. They are making a step forward, its good for them in many ways, maybe marketing about all that is the most important, bonus for them will be if that start up becomes successful, its just more profit. Turn it up side down, its good move how ever you look at it.

Well i hope that they can actually make it and be of use down under. That is progressive and if it becomes successful we can have a presidence that we can use to convince other nations to adopt crypto currency in their countries because apparently the help of crypto currency in Venezuela isn't enough yet.

Woah, huge money pumped into cryto currencies so it would be adopted is a good sign that people have huge expectations when it comes to crypto currencies and blockchains. I just hope that more and more countries push this move and finance Crypto currency so they could be adopted once and forall.

This is one of the positive outcomes from the Australian governments
decision last year to attract crypto startups to their country.

It is also great news for crypto with the backing of Binance, this is set
to be a hugh success. I like this comment.....

'lets start with airports'

As time goes by Binance was getting better and better, this exchange platform has surpassed many exchange especially the old exchangers such Bittrex and poloniex, Bifinext and kraken, meaning Binance is doing the right things to their community and they embraced it more, so this therefore a good news again to all of us who this platform.

Making bitcoin adoption faster doesn't happen in one night but payment gateaways are not the way to do that. I have always talked about how the bitcoin mobile payment apps are much better for this type of adoption than the ATM machines. You can have places people can go and buy/sell bitcoin whenever you want in EVERY street and it still wouldn't be as good as getting a decent payment mobile phone app that allows people to pay with bitcoin in places that doesn't even take bitcoin.

Just make sure the app can pay the person in fiat if they prefer and you can spend your bitcoins anywhere you go just like your bank app on your phone. People need to realize that pos machines can take payments from mobile apps now and that is our way to get bitcoin more in the hands of spenders which will be our way of adoption.

Australia is one of the few countries that supports the development of blockchain and cryptocurrency technology in the national interest.
Today, several tokens are already supported by the government, so this is really good news.
The most famous coin on CMC Power Ladger-for the last year continues to hold good positions and this is not the only example. The contribution from the binance will bring success in this direction because it is the most popular exchange today that can succeed with its authority

I am believe with more company collaborate, it will make crypto adoption become more faster. I think in near future, we will used cryptocurrency for our daily activity and more people will join in this market. Hope the best for the real project and make peoples life more easier

Why can't binance make their own crypto as payment for their mission to push on adoption. We all know that binance is one of the biggest exchange for cryptocurrency and for that they could influence clients or users to use their own crypto. THis will be a big start for cryptocurrency and it will be greater than it was happening.

good news, maybe this will affect the price of BNB tokens, but investment at startup is very risky and the same thing as trading crypto assets price fluctuations but those who like challenges of course the risk of investment is an exciting challenge, if this investment is successful I think the price BNB tokens will increase.

Binance's development does look good even though it is currently down, but its performance is solid. The position is able to shift old coins that are less passionate, Binance has a good step so that it becomes popular. The community makes it more alive and moving well.

binary consistency as a favorite exchanger, so they remain solid to maintain consumer confidence. so it's not surprising that binance is growing and expanding its network in various places

Binance is the best solution exchange market where you could raised and get much profit with your investment, keep holding it and always use best exchange for investing your money and buy altcoin kinds.

One of the most popular exchanges, Binance is sufficient to provide opportunities for its consumers and this makes good trust. This development is very good and has become a busy competition, the professional performance of the team makes the community more active and moving well.

Ofcourse it is a good thing but it is only a small step on the way to crypto adoption and 2.5 mln $ is not a revolutionary big money for crypto world. I doubt that many people would use TravelbyBit and there is no guarantees that this project will become somehow popular. Sometimes we are witnessing the crash of even bigger projects.

Yes, $2.5M is just the tip of the iceberg so to speak. But big things start from humble beginnings. If that project will optimize what has been given to them, then, they have the chance to grow it big. Such amount is already sufficient to initiate developments and considering that they are backed by a known exchange, they should make the most out of its marketing exposure. Their fate in crypto is basically from their end.

The steps taken by Binance in supporting Australia's Crypto Payments include extraordinary and noble even though their goals are simple. Hopefully, the benefits of this collaboration can produce positive results going forward, and can be utilized in various Australian financial sectors well, so that what they are targeting can be appropriately hit.

A step that indeed had a good impact on Binance's development, slowly but surely Binance was able to become a popular coin and this was a potential team performance. Continuous development will give Binance more quality and ability to achieve a better position.

This is a good initiative from Binance, one among the largest in the cryptocurrency exchange service. Now what they invest will get reflected soon when the cryptocurrency network becomes more popular around. These startups will help stand together and grow high, also it will add value to the Binance network.

As I have said in previous thread, Binance is now the gold standard as far as crypto exchanges.

They have said the bar so high that others platform as just left in the dust. They have been investing so much and that's a good thing. They are not like just wanted to make more out of this market. They are pushing the boundaries to make crypto be adopted globally so that's a good thing for all of us.

I know it is old topic but need know. Is travelbybit reliable? Any reviews from users here?

This is truly one of the great projects. because I am also an avid traveler and I have a lot of problems paying for any service. Now we have travelbybit. Now I also tried travelbybit's service and it was really convenient. This will surely be an extremely successful business.

It was exciting to hear this news. You know, when I was a full-time trader in the crypto market and all I had seemed to be crypto. I usually store it in wallets. For a full-time trader like me, the demand for vacation is huge and I often travel abroad but the problem I face most is the currency conversion process. It's quite complicated and takes my time when I have to go to the banks and do the money transfer procedure, ...
So hopefully travelbybit will make a miracle with this new market segment.

Binance remains one of the very first in the crypto industry and makes a turn in bitcoin. This is very positive for the whole blockchain as a whole. Binance is a leader on exchange exchanges.

CZ of Binance is serious about the business and crypto. We have observed his efforts in doing so for crypto, and it is commendable. He really cares community and doing all he can for the adoption. Hope to see more leaders like him, who are after the adoption and creating more opportunity in crypto.

Let's take a look at the last 1 year. What happened except for Binance's moves? Binance has started a new trend. IEO did. This system has spread everywhere. Somehow the market came alive. Any other progress? Corporate capital would enter the market? What the hell happened? CZ leads the market.

The brand is expanding and they have collaborated with many exchanges around the globe including local exchanges and a few days back i have seen them collaborating with Paxful too, they are having a global presence now and hopefully they will give importance to their security too and hopefully we will not hear about another hack in binance and if that happens then the entire thing will collapse just like that.

It seems like Binance exchange is now the bitcoin of the exchanges. Binance as the largest crypto exchange is being offensive since they are getting a lot of support from their users and project listings are just feeding them. Did you guys know that the binance investment on TravelByBit is just a cost of a single ( or maybe 2) coin listings? I know it costs a maximum $3million for a coin to be listed with full utility and advertisement. This is just a small fraction of what binance can do to influence using the cryptocurrenies. I hope other exchanges would follow the steps of binance in getting into mainstream.

It's business after-all, in within the span of two years, they have built their reputation, works with difficult companies resulting in Binance being one of the biggest crypto exchange, if not the biggest, Kudos to CZ.

But they've become so powerful that hackers targeted them and successful stealing tons of money. And there are some people saying that CZ though has become too powerful at it expands globally. So I wouldn't say that they are 'caring' about the community, for me it's just like any other business.

It is always nice to see Binance growing their company to bigger and bigger, remember this is how the non-crypto startup world grew so bigger and avoided the tech bubble and became such huge companies. Microsoft purchased so many companies until they are this big, same with apple, amazon, google, facebook and many others.

So, binance could buy or invest into other smaller crypto companies, can build something new from ground up or do whatever they want with their money but as long as they are focusing on growing with the profits they are making right now I am sure it will become one of the leading crypto companies in the whole world even if they are not right now. The moment they purchase Coinbase and move into USA market as well they will be unstoppable force in crypto world.