The renowned exchange partners with TravelByBit to launch a travel reward card backed, if as it is, in cryptocurrencies, and is intended to facilitate crypto payments on major travel websites.
TravelByBit is an Australian travel agency, which has focused on bringing tourism to the inhabitants of our crypto ecosystem.
The travel card will be known as TravelbyBit Travel Card and can be used in the main online booking platforms worldwide.
The hodls and holders of TravelbyBit Travel Card, can use the card as a simple prepaid debit. In addition, you can also benefit from discounts and exclusive travel offers offered by this Australian travel agency.
The “TravelbyBit Travel Card” can be loaded with several altcoins, including Binance USD (BUSD), Binance Coin (BNB), Bitcoin (BTC) and Ontology (ONT), at least for the moment.
These cryptocurrencies can be spent on TravelByBit, by using the prepaid card, when booking flights and hotels through travel sites such as Expedia, Booking.com, Ctrip, Agoda, and of course TravelbyBit.com itself.
The card will be launched at the beginning of next year, 2020 and will initially be addressed to travelers from the Association of Southeast Asian Nations, Australia and Europe, with plans for gradual expansion to the other continents of the world, at least this is what has affirmed the crypto company.
The CEO of the crypto travel agency, Caleb Yeoh said that:
“Many companies that accept cryptocurrencies, in exchange for offering their services, charge their users a very high premium, which really represents a very difficult barrier to overcome for their adoption, and as we see not only on the side of the shops, but for part of the same consumers.
Unlike that business model, in TravelbyBit, we want to make cryptocurrencies usable on a day-to-day basis. Provide incentives for that batch of first interested users, and little by little, and with hard work, see the adoption of cryptos grow. We are excited to work closely with Binance to bring crypto payments to travelers around the world. ”
It should be noted responsibly, that TravelByBit is not the first service that allows its users to travel with cryptocurrencies, the cryptocurrency reservation firm Travala announced that it will now allow its customers to book any hotel that can book flights and hotels, through Booking .com with cryptocurrency.
In the middle of this year, the co-founders of the Scandinavian airline Norwegian Air announced plans to launch their own crypto exchange, which will then facilitate acceptance of cryptocurrency payments by the airline.
On the other hand, Fold will incentivize users with a 3% bitcoin reward every time they book a place with Airbnb. Fold CEO Will Reeves said the international payment service needs a major update and that cryptocurrencies could be the key to driving its evolution.
“We believe that Bitcoin will provide a fundamentally better payment method, one that preserves privacy, resists censorship and is inherently cross-border. To this end, we create products that make Bitcoin spending easy for everyone, which makes it as easy to use, rewarding and widely accepted as a credit card. ”