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

[Piggy]

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

[Renaldi blackspadeteam]

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

[aleksnutis]

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.

[Barbut]

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.

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.

[squog]

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.

[spongegar]

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.

[aoluain]

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'

[thunderbitz2717]

$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/

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.

[fasdorcas]

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

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.

[BestSSS]

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

[Bitfling]

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

[jademaxxiss012]

$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/

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.

[Renaldi blackspadeteam]

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.

[rosmerius]

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.

[nur rochid]

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

[alonelyorange]

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.

[azalea69]

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.

[Beerwizzard]

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.

[tippytoes]

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.

[Bonsaiav]

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.