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Binance launches travel rewards card in partnership with TravelbyBit

  • The cryptocurrency exchange Binance will team up with TravelbyBit to launch a reward card to pay for hotel bookings with cryptocurrencies.
  • Users will be able to plan entire trips, even pay for hotels and receive rewards and discounts.

A new cooperation between Binance and the startup TravelbyBit aims to make payments with cryptocurrencies for travel, something of everyday life. The announcement of the cooperation was made in a publication of Binance’s blog, on November 28th of this year.

TravelbyBit is also recognized as one of the startups that contributed to the transformation project at Brisbane Airport, Australia. This project made the east the first airport capable of operating with cryptocurrencies.

Paying for travel and hotels with cryptocurrencies: How does the reward card work?

According to the publication, users interested in purchasing the rewards card can pre-register. For this purpose, it is only necessary to enter the page of TraverlbyBit.

The startup rewards card will work just like today’s prepaid payment cards. Users, by making use of the card, will have access to benefits, discounts and offers. The publication also revealed the cryptocurrencies that can be charged to the card: BTC, BUSD, BNB, ONT. The card may be used:

to book flights and hotels through popular online travel sites such as Booking.com, Expedia, Agoda, and Ctrip, as well as TravelbyBit.com.

Caleb Yeog, CEO of TravelbyBit, said the initiative seeks to lower the barrier to the adoption of cryptocurrencies:

At TravelbyBit, we want to make crypto useable, provide incentives for early adopters, and see crypto adoption grow. We are excited to work closely with Binance to bring crypto payments to travelers around the globe.

The card will be launched at the beginning of 2020. The initiative, for now, will start in Asia, Australia and Europe, but plans an expansion in the future.

Binance continues to expand their partner network with the Band protocol

Binance CEO Chanpeng Zhao was the subject of a scandal last week. First, when Binance’s account was suspended from the Chinese social network similar to Twitter, Weibo. Later the news portal The Block published news about an alleged raid that would have occurred in a Binance office in China. Although it would correspond to the announcement made by the Central Bank of China, Zhao denied the news.

At that time, CNF reported on the controversy. Zhao said he would sue TheBlock. According to Zhao, the news in the media was not only false, but damaged the reputation of the exchange.

One of the most recent and important cooperation was established with the Band protocol (BAND). With this alliance Binance supports the Oracle data platform that includes more than 600 pairs of cryptocurrencies.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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