$2.5 Million: Binance Invests in Aussie Crypto Payments Startup to Push Adoption

[oksgvardukraine2018]

$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/

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[3acaga]

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.

[vixcious]

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.

[dothebeats]

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.

[chokomenia]

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

[Kemarit]

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.

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.

[JustinLOX]

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.

[Davidbaecker]

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

[Asger223]

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

[cryptocrusher]

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

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.

[unusualfacts30]

$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/

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.

[cizatext]

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.

[redsap]

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

[Sama517]

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.

[iwah]

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. 

[Lighthouze]

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

[evforster]

$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/

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.

[esetop01tryba]

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 !

[coinplus]

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.

[kryptqnick]

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.

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.