Binance Backed TravelByBit Launches Beta Version Of Its Application For Travel and Tourism Industry

Binance Backed TravelByBit Launches Beta Version Of Its Application For Travel and Tourism Industry
Binance Backed TravelByBit Launches Beta Version Of Its Application For Travel and Tourism Industry

Various industries are beginning to find more use cases for cryptocurrencies and this has put digital currencies in a new light. Making use of cryptocurrency in the travel and tourism industry is one such use case that TravelByBit has come up with and will fuel the widespread use of digital assets.

An organization that allows its clients to book hotels and flights using cryptocurrencies, TravelByBit, has launched the beta version of its application. The application, which recently went live, allows the company’s customers to book their holidays and flights using Bitcoin, Litecoin, and Binance Coin. TravelByBit is itself, powered by Binance Chain and it was developed as a way to give crypto traders a platform through which they can easily pay for their holidays. The system has over 1 million options of hotels and flights that one can choose from and they are continually adding more to that list.

The partnership between Binance and TravelByBit was first announced in October 2018. Binance invested a hefty $2.5 million in TravelByBit, an Australian startup. The investment was meant to scale up the scope of operation activities conducted by TravelByBit and create more employment in Queensland. TravelByBit had been established in 2017 as a digital currency platform for the travel and tourism industry. The company has also, in the past, partnered with Brisbane Airport, a partnership that saw the birth of the world’s first digital currency airport.

Other Projects Between Binance and TravelByBit

Binance Chain and TravelByBit are also expected to announce a worldwide point of sale (POS) payment framework which will be availed at airports across the world. The POS initiative will bring blockchain technology to these airports and give the airports and their clientele a platform through which they can employ cryptocurrencies. Bitcoin, Litecoin and Binance Coin are some of the cryptocurrencies that will be used on this POS platform. The platform will also bring together travel industry related businesses that make use of blockchain and cryptocurrencies and will give those who don’t the encouragement to do so.

Cryptocurrencies Going Mainstream

The launch of TravelByBit’s app is a reflection of the mainstream adoption of cryptocurrencies. Crypto trading has set itself in a position that has allowed companies such as TravelByBit to come up with ideas to make the use of digital assets more conventional. Traders and investors may also be looking to buy Binance Coin as the value of it may surge if this partnership bears fruit and the services of TravelByBit are made use of by more clients.

Remember, all trading carries risk. Past performance is no guarantee of future results.

A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.