Binance And TravelByBit Partner To Launch Flight Booking Crypto Rewards Cards
The concept of digital currencies is gradually being accepted in various industries with incentives like crypto rewards popping up as options for the tourism sector. Binance, is among the big boys in crypto who have ventured into this industry with an inclination towards air travel. The leading exchange announced that they are now partners with TravelByBit, a cryptocurrency travel firm. These two are set to launch a card that will offer crypto rewards to clients who book flights through their services.
According to the blog post by Binance, this innovation replicates the model by traditional pre-paid cards but with the advancement of loading cryptocurrencies as an option. Initially, the ecosystem will facilitate Ontology (ONT), Binance Coin (BNB), Binance USD (BUSD) and Bitcoin (BTC) rewards. The release date of this card is scheduled for early 2020 and will mainly target Europe, Australia and Southeast Asian countries in its early phases.
TravelByBit will allow prospective clients to access a number of flight and hotel booking websites while leveraging their crypto reward incentives. So far, the recognized sites include; Ctrip, Agoda, Expedia, Booking.com and the TravelByBit website.
Other players who have launched similar services are the likes of ‘Travala’ which operates as a cryptocurrency-oriented booking company. The firm earlier announced that clients using Booking.com could now book any hotel via digital currencies as long as it is within the range of services offered. Norwegian Air co-founders have also hinted that they are in the process of building crypto exchange to integrate crypto payment options for its clientele.