Binance (BNB), TraveByBit Launch Crypto-Powered Debit Card for Travelers
Binance (BNB), a highly reputed cryptocurrency exchange and distributed ledger technology (DLT) ecosystem, has joined forces with TravelbyBit, an innovative, bitcoin-friendly online travel agency, to introduce a crypto-powered travel rewards card. The card enables travelers to make crypto payments on supported websites with very low commissions, according to a blog post on November 28, 2019.
Easy Crypto Payments for Travels
In an effort to make it possible for cryptocurrency holders from across the globe to make frictionless payments for all their travel needs and enjoy the freedom that comes with bitcoin (BTC), altcoins and the underlying blockchain technology, Binance and TravelByBit are rolling out a new travel rewards prepaid debit card.
As stated in a blog post, the crypto-powered travel rewards card will be supported on a vast array of leading travel sites including Booking.com, Expedia, Agodia and Ctrip, to mention a few.
The team says the new card will function as a regular prepaid debit card, just that it comes with additional access to exclusive travel discounts and juicy deals.
Initially, the travel rewards card will support only a few crypto assets including bitcoin (BTC), ontology (ONT), Binance coin (BNB) and BUSD, for its loading, and the funds can be used to book flights, hotels, and pay for other travel expenses on supported sites.
Commenting on the exciting development, Caleb Yeoh, CEO of TravelbyBit reiterated that while numerous crypto-supporting merchants charge huge premiums for their products and services, TravelbyBit takes an entirely different approach, as the primary objective of creating the travel rewards card is to accelerate broader adoption of bitcoin and other blockchain-based virtual currencies.
In his words:
“A good number of crypto-friendly businesses charge users a high premium, which poses an insurmountable barrier to adoption. However, TravelbyBit aims to make crypto useable, provide incentives for early adopters, and promote crypto adoption. We are excited to work with Binance to bring crypto payments to travelers around the world.”
The team has hinted that interested users can pre-register for their cards prior to its official release in early 2020.
The team says the card will initially be available to only travelers in Australia, Europe, and the ASEAN region.
In related news, earlier in October 2018, Binance invested $2.5 million in TravelbyBit, to support the latter’s push to integrate crypto point-of-sale (POS) systems in major airports around the world.
At press time, the price of Binance coin (BNB) is up by 4.69 percent at $16.11, with a market cap of $2.51 billion, as seen on CoinMarketCap.