Major cryptocurrency exchange Binance and Australian-based travel booking agency TravelbyBit brought their new cryptocurrency-backed travel rewards card to the Cryptoworld today.
“Global travel meets mainstream crypto adoption in this latest venture from Binance and TravelbyBit, the company behind Brisbane Airport’s transformation into the world’s first cryptocurrency-ready airport,” their announcement says.
The two offer an option to use TravelbyBit travel rewards card, which functions as a traditional prepaid debit card, but can be loaded with Bitcoin (BTC), Binance USD (BUSD), Binance Coin (BNB), and Ontology (ONT). The card can then be used to book hotels and flights via online travel sites, including TravelbyBit.com, Booking.com, Expedia, Agoda, and Ctrip, but used with ATMs and merchants as well. There are also additional travel discounts and deals that come with it, the announcement explains.
Pre-registration for the TravelbyBit Travel Card has already started. It should be released in early 2020 starting with travelers in ASEAN (Association of Southeast Asian Nations), Australia, and Europe, the announcement claims, though there are “plans to gradually add support to more countries.” TravelbyBit says that more information about the card will be available soon.
TravelbyBit already enables customers to pay for flights and hotels, as well as tours, cruises and other services, in both fiat and cryptocurrencies. Users also earn rewards in Bitcoin with each booking. This isn’t their first time working with Binance either, as already in October 2018, the two partnered up with the blessings of the local government authorities in Australia, so that the exchange could invest USD 2.5 million in the travel agency. The partners had said that together they’d work on creating blockchain-powered point-of-sale (POS) payment systems at major airports around the world.
Meanwhile, at the time of writing (8:55 UTC), BNB is trading at USD 15.98. It’s gone up 4.92% in the past 24 hours, but down 8.81% in the past seven days.
In related news, as reported, Coinbase Card, a Visa debit card issued by Coinbase, expanded their customer geography and added more available coins in November.